HRA IN INCOME TAX
GITANSH KARAN (26 Points)
18 December 2017
Is HOUSE RENT ALLOWANCE is exempted from INCOME TAX? AND HOW?
1 Replies
unnati sharma
(39 Points)
Replied 18 December 2017
Least of following conditions is exempted from incme tax:
1. 40% of salary (50% of salary in case of metropolitian city)
2. HRA received
3. Excess of rent paid over 10% of salary
Here salary= basic+ dearness allowance for retirement benefits+ commission based on fixed percentage of turnover.
Least of three above is exempt from tax.
HRA taxable = Total HRA received- Exempt (calculated above)..
1. 40% of salary (50% of salary in case of metropolitian city)
2. HRA received
3. Excess of rent paid over 10% of salary
Here salary= basic+ dearness allowance for retirement benefits+ commission based on fixed percentage of turnover.
Least of three above is exempt from tax.
HRA taxable = Total HRA received- Exempt (calculated above)..
Recent Topics
- Extension for CA industrial training
- Registration of will and transfer of parents flat
- Https://www.facebook.com/sentinelglycogencontrol/
- Mistake in filling CMP 08
- GST Appeal offline documents
- Articleship extension under new principal
- Cost audit report CRA3
- Gst rule 96(10) PURCHASE AT GST 0.1% RATE (NOTIFIC
- Ways To Recover Locked Funds From Online Investmen
- CHG1 on MCA PORTAL and CA certificate u/s. 281 of
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
