Sumit A. Raval (Student) (190 Points)
23 December 2009If a person had joined the organisation say from 13th May 2009 & received proportionate amount of HRA, but paid the HRA for whole yr 2009-2010, than tell me the allowability of exemption...
As I am confused with the amount paid as House rent was proprtionate allowed or allowed for full year at the time of calculating exemption.
Amir
(Learner)
(4016 Points)
Replied 24 December 2009
The amount of Rent paid will be of same period for whiich the employee has received HRA..
The total amount of rent will be apportioned between the two periods as follows:-
1) Period for which the empoyee has received HRA.
2) Remaining Period.
Only the former will qualify for the Exemption u/s 10
CAclubindia
