Pls reply its urgent

Dear Raja,

1) Exemption u/s 10 will be Rs.134694/- i.e lowest of your working in the attached excel sheet.

2) No Arrear HRA will not be consider while calculating above exemption u/s 10

3) No Limit you can get the HRA benefit.

4) You have to submit the Lease Agreement, and Rent Reciept to your company accounts department and tell them to rectify the form 16 accordingly, only after that you can get the benefit for that

50% of HRA - 150285

Actual HRA received - 134694

Rent paid - 10% of salary -149943

whichever is lower.., den HRA u/s 10 is 134694

so Income from salary = 300570-134594 = 165876

Income from House Property = (150000)

is there any deductions under VIA - 100000

Gross total liability - does not exceed taxable limit

furnish your it returns in itr 1.there is sheet named tds, der u hav to furnish ur form 16 details.

submit all your bank details correctly.

u will get refund.

1)exemption under HRA as pe ur excl sheet Rs. 141327.

Calculation of HRA as follow:

HRA received                                    141327

As per section 10(10A); least of the following shall be exempt.

from the above the least amount is 141327, so it will be exempt from salary income.

2) HRA received during the year is taken there is no where mention whether it is arrear or current.

3) Interest paid on house loan is calculated under the head Income from House Property. there is no link betweeen salary computation or house property ccomputation. But set off will be taken by u on salary income.

4) u must revised ur TDS return and produced salary sheet to ur employer along with bank statement.so that ur employer get revised his return and fresh certificate issue.

Hi,

Pls advise while calucation HRA, I have to deduct 10% of Salary from Rent Paid

Now need to cnfm what this Salary word contains -

1/ Only Basic Salary   OR

2/ Basic + DA

3/ Basic + DA + Allowance

Basic + DA