28 November 2013
An assessee stays in a rented house and used to submit the rent paid details to his employer.In his IT computation statement provided by the employer, they show an amount as HRA which is added to GTI & hence taxable. Can he not claim the benefit of Sec 80GG?
28 November 2013
Sir, Thanx for your prompt response. So, which means even though HRA which the assessee receives is taxable, exemption cannot be claimed?
29 November 2013
He has to compute the amount exempt first by selecting the minimum of the 3 criteria- 1. 40/50% of salary 2. Rent Paid-10% of Salary 3. HRA received. . The same can appropriately be shown as amount exempt U/s 10. . In ITR calculation is not required to be shown.
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