Sanat Biswal (Chartered Accountant) (1139 Points)
23 December 2015Hii everyone..I need clarification on the following matter.A person has 14000 INR eligibility for HRA exemption but has shown it as 8300 INR by mistske as per company records.He has submitted actual documents as 14000 INR for the year 15-16. Can he claim 14000 INR while filing the ITR for the mentioned year .If not what can be done to rectify this??
Sonu Goenka
(Professional)
(62 Points)
Replied 23 December 2015
Yes, he can Consider Rs.14,000/- P.M. rent for calculation of HRA while filling the ITR, but condition is that person should have PAN card number of the house owner along with proper rent supportings.
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 23 December 2015
YES, 14000 still eligible for HRA exemption .
Take form 16 recalculate taxable income and correct tax on the basis of 14000.
claim the refund of excess tax deducted.
Sanat Biswal
(Chartered Accountant)
(1139 Points)
Replied 27 December 2015
But in form-16 its mentioned as 8300 INR as HRA since the declared amount is 8300 as per company records.So,I hope I would be able to claim the tax refund as per my rent paid which is 14000(eligibility is 14000).
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 28 December 2015
that what i am saying , take the correct eligible amount , recalculate taxable income and correct tax .
CAclubindia
