Ruchi Agrawal (law) (129 Points)
24 January 2010
Amit Wadhawan
(CA Final)
(107 Points)
Replied 24 January 2010
deepak K Gujrati
(CA-practice)
(966 Points)
Replied 24 January 2010
I agree to what Amit says. But it has to be actual rent paid.
Kashyap Joshi
(Proprietor )
(260 Points)
Replied 25 January 2010
Agree with Amit.
50 % of salary if u reside in Delhi, Mumbai, Kolkota or Chennai and 40 % in case u reside in any other city.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 January 2010
| Originally posted by : Karunesh Agrawal | ||
 |
Dear Sir I shall be highly obliged for your reply to my query about HRA. My total annual salary is 7 lakh. To claim HRA exemption, how much House Rent Receipt will be required? I have received 143000 HRA. Will I require to submit House Rent Receipt of Rs. 18000 p.m. for full exemption of HRA? Best Regards |
 |
Dear Friends,
He is saying that his annual salary is Rs. 7,00,000 and HRA is Rs. 1,43,000 but i think for HRA calculation we need salary components as HRA exemption is available on basic salary and not on gross salary.
NITIN CHHARIYA
(SERVICE)
(40 Points)
Replied 25 January 2010
Sudhanshu is very much right , For knowing the correct Solution we need the bifurcated figure of
Basic
D.A,
&
% based sales commission (if any)
out of Annual Salary of Rs. 700000/-
CA. ANKUR
(ASST. MANAGER ACCOUNTS)
(54 Points)
Replied 25 January 2010
I agree to all above except for the way they have agreed to HRA calculation
The actula criteria is as follows
HRA exemption allowed will be least of following:
1. Actual HRA received
2. Rent paid in 10% of salary (But salary includes Basic + DA )only
Kindly go through the same for your
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 25 January 2010
Please provide the bifurcation and the area where you reiside. this will be helpful for calculation purpose(i.e) 40% or 50%)
Santosh K Sharma
(Sr. visulizer)
(21 Points)
Replied 25 January 2010
Hello, I have one query about HRA, Actually My company located in Mumbai, and I am living in Thane district My HR only consider 40% of Basic Salary instead of 50%, He told me because you living in thane that why only I'll get 40% HRA not 50% its true. .........
mukesh sarawagi
(ca final)
(142 Points)
Replied 25 January 2010
for claiming HRA deduction,rent agreement is required to submit. And the rent amount mentioned in agreement is Valid proof along with rent receipt.if rent receipt reflects greater amount than the amount mentioned in agreement it will not be considered.
Kashyap Joshi
(Proprietor )
(260 Points)
Replied 25 January 2010
| Originally posted by : Santosh K Sharma | ||
|
Hello, I have one query about HRA, Actually My company located in Mumbai, and I am living in Thane district My HR only consider 40% of Basic Salary instead of 50%, He told me because you living in thane that why only I'll get 40% HRA not 50% its true. ......... | |
Yes Mr. Santosh , he is correct. U get 50 % only if u live in Mumbai, Kolkota, Delhi or Chennai
CAclubindia
