What is criteria for HRA Claim
This query is : Resolved
04 February 2010
Hello All,
What is criteria for HRA Claim.
Please guide me.
Regards
rajnish
What is criteria for HRA Claim.
Please guide me.
Regards
rajnish
CMA Ramesh Krishnan
(Expert)
04 February 2010
First, You need to receive the HRA in your salary
Second you need to pay rent for your rented house
Then
Least of the following is exempted
1.Actual HRA
2.40% of Salary (50 % incase of metros)
3.Rent paid less 10 % of Salary
Salary Means = Basic pay + DA & DP + Commission based on % of turnover
Second you need to pay rent for your rented house
Then
Least of the following is exempted
1.Actual HRA
2.40% of Salary (50 % incase of metros)
3.Rent paid less 10 % of Salary
Salary Means = Basic pay + DA & DP + Commission based on % of turnover
CA PRIKSHIT GUPTA
(Expert)
04 February 2010
for deduction of HRA, you should be a salaried employee and your salary should include HRA. In addition, you should pay rent. calculation of exemption will be minimum of follows:-
1 excess of rent paid over 10 % of salary
2. 50 % of salary (in case of Delhi, Kolkata, Mumbai and Chennai) otherwise 40%
3. HRA received
Here salary means Basic+DA+ fixed percent of commission received on sale
1 excess of rent paid over 10 % of salary
2. 50 % of salary (in case of Delhi, Kolkata, Mumbai and Chennai) otherwise 40%
3. HRA received
Here salary means Basic+DA+ fixed percent of commission received on sale
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