03 February 2009
there in no % in the Direct taxes for the component of basic hra conveyance etc
in Tax laws Rs.800 per month conveyance is allowed i.e.not taxable
hra is tax exempt LEAST of the followings: 1.50% of salary(basic,da,commission) in the 4 metros (Del,Mum,Chennai,Calcutta) otherwise 40% 2.actual hra 3.excess of rent paid over and above of 10% salary
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