HRA taxability
Jaisika Kukreja (216 Points)
08 August 2018
Whether House rent allowance as partial taxable would be considered while computing Value of rent free house ??
Jaisika Kukreja (216 Points)
08 August 2018
House Rent Allowance (HRA) is a common component of their salary structure. Although it is a part of your salary, HRA, unlike basic salary, is not fully taxable. Subject to certain conditions, a part of HRA is exempted under Section 10 (13A) of the Income-tax Act, 1961.
The amount of HRA exemption is deductible from the total income before arriving at a taxable income. This helps the employee to save tax. But do keep in mind that the HRA received from your employer, is fully taxable.
you cann't take both benefits.
Sarath Rajendran
(Nil)
(2791 Points)
Replied 08 August 2018
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Jaisika Kukreja
(216 Points)
Replied 08 August 2018
Karthik Isukapalli
(24 Points)
Replied 08 August 2018
rama krishnan
(12234 Points)
Replied 09 August 2018
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