Hra calculation
Manish Jha (Accounts/Finance) (44 Points)
13 May 2017
Resident in Noida, how is take HRA Exemption 50%
7 Replies
Studentsca
(CA Practice )
(3577 Points)
Replied 13 May 2017
No it is only 40% for non Metropliton cities.
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 13 May 2017
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?
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 13 May 2017
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.
Manish Jha
(Accounts/Finance)
(44 Points)
Replied 13 May 2017
Thanks for Solutions.
Please How is Medical allowance exempt 15000/- PA with out bills.?
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 13 May 2017
I have edited the reply replace with reimbursement of Medical Expenses.
Yer you are right employee has to provide medical expenses bill to employer...
Manish Jha
(Accounts/Finance)
(44 Points)
Replied 13 May 2017
Thanks,
One another query how is benifit LTA(Leave tour allowance) how much rupees exempted for FY 2017-18 as a salaried employee.
Recent Topics
- Eport of goods
- STAMP DUTY ON TRANSFER
- Advice on Investment of Retirement Corpus
- Nature of business activities under GST registrati
- Tally Vouchers Entry for Commission based services
- Regarding transfer of stock
- CBIC ALLOWED ITC Available in Demo Car
- Final Course - Tricks to Pass
- Can we issue GST debit note in case mother invoice
- ITR-U for declaring foreign assets under schedule-
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
