Kashish Gupta (B.com (H) , ACA) (368 Points)
06 August 2013Hi Friends,
Greetings of the day.
I have one query on which i need your advice.
One person is a partner in a partnership firm. He is getting salary along with HRA. Now, i want your opinion on availability of HRA Exemption to such person. Whether exemption is still allowed even if his salary income is taxable under head 'Profits and Gains of Business & Profession'.
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 06 August 2013
no.Interest and remuneration received from firm is taxable as Business income not taxabole under the head salaries.so H.R.A exemption can not be claimed.
CAclubindia
