Your question is not clear... First of all answer of this below questions...
1) You are a salaried employee or not?
2) You are paying house rent or not?
I am salaried, and i have paying Rent
If you are paying rent and you are a salaried employee, in this case section 10(13a) will be applicable for you. You may follow the example below:-
| Particulars | No. of Months |
Total amount received |
Amount Exempted |
Amount Taxable |
| Basic Compensation | 12 | 330,000.00 | 330,000.00 | |
| House Rent Allowance | 12 | 132,000.00 | 63,000.00 | 69,000.00 |
| Conveyance Allowance | 12 | 99,000.00 | 19,200.00 | 79,800.00 |
| Reimbursement of Medical Allowance | 12 | 66,000.00 | 15,000.00 | 51,000.00 |
| Special Allowance | 12 | 33,000.00 | 33,000.00 | |
| Total | 660,000.00 | 97,200.00 | 562,800.00 |
| Calculation of exemption of HRA (Allowance exemption whichever is lower):- | ||||
| HRA received from employer | 132,000.00 | |||
| Actual rent paid(8000*12)= | 96,000.00 | |||
| Less:- 10% of Basic | 33,000.00 | 63,000.00 | ||
| 50% of Basic salary | 165,000.00 | |||
50% for metro city.
40% for non metro city.
Thanks for Solutions.
Please How is Medical allowance exempt 15000/- PA with out bills.?
I have edited the reply replace with reimbursement of Medical Expenses.
Yer you are right employee has to provide medical expenses bill to employer...
Thanks,
One another query how is benifit LTA(Leave tour allowance) how much rupees exempted for FY 2017-18 as a salaried employee.
CAclubindia
