Rajarajan (AO) (272 Points)
20 August 2009
If actual rent paid is lower than 10% of basic salary, can I take the least of the other two conditions ( i.e actual HRA received or 50 % of Basic+DA) or I get not exemption under this section.
Rajarajan
llllVICTORllll
(Internal Auditor)
(511 Points)
Replied 20 August 2009
I think, you wont get any exemption under HRA, and rule clearly says least of the three... so,as least of the three is a negative figure,which means no exemption under this act...
ayyappa
(CA Final)
(81 Points)
Replied 20 August 2009
Yes, you will not get any HRA exemption, I agree with Meghdoot.
hitesh kumar
(Chartered Accountant)
(78 Points)
Replied 20 August 2009
Mr. Rajarajan, its sad to tell u that, u wont be getting any exemption for HRA in this case because the provisions of HRA is as follows
As the exemtion is for least of the above, and least is 0 (ZERO) so you wont be getting any exemption.
Ankur Agrawal
(CS, CA Final)
(239 Points)
Replied 20 August 2009
no yar ...
it is but abvious k ....u can't get deduction.
resun ..u have to select lower of the 3 s the deduction and if one comes negative ...it show ur deduction amoutn under 10(13A) is zero
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 21 August 2009
i agree with hitesh sir..
since the least of the 3 conditions is nil
so, no exemption cn b claimed
sagar
(CA Final)
(379 Points)
Replied 21 August 2009
YOU CANT NOT TAKE EXEMPTION. BUT IF U DONT GET HOUSE RENT ALLOWANCE, YOU WILL BE ELIGIBLE FOR DEDUCTION U/S 80GG
Lucky Jain
(student)
(210 Points)
Replied 21 October 2009
| Originally posted by :sagar | ||
| " | YOU CANT NOT TAKE EXEMPTION. BUT IF U DONT GET HOUSE RENT ALLOWANCE, YOU WILL BE ELIGIBLE FOR DEDUCTION U/S 80GG | " |
can u plz give explaination of 80GG wrt rfa
CAclubindia
