Sheetal Goel (CA, CS) (62 Points)
01 July 2013A salaried Employee is in receipt of HRA. He has occupied a rental house for a period of 1 month.
How will I calculate the exemption under HRA? Whether Full year salary will be taken to calculate the 40% limit u/s 10(13A) or only 1 month salary will be taken?
Please clarify
Regards
Sheetal Goel
CA CS Roshan Begrajka
(Chartered Accountants)
(267 Points)
Replied 01 July 2013
Full year salary will be taken for calculate 40% limit u/s 10(13A)
Saurabh Anokhchand Jain
(Chartered Accountant)
(1043 Points)
Replied 01 July 2013
Whole salary of the year will be taken
P.L.J.
(-)
(23 Points)
Replied 02 July 2013
Hi only one month salary should be taken 4 limit calculation. Pls refer to rule 2A https://law.incometaxindia. gov.in/DIT/File_opener.aspx? page=ITRU&schT=rul&csId= 5a8a11ff-94a6-4aea-b490- 5c005552eca6&rNo=&sch=&title= Taxmann%20-%20Direct%20Tax% 20Laws
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