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Tax Query

Parmod Agarwal (Assistant Manager) (394 Points)

20 April 2010

Dear All,

Our one employee has joined the service from 10.08.2009 and he is submitting the HRA receipt from 01.08.2009. My query : whether we allow him HRA exemption from 10.08.2009 or from 01.08.2009. Plz clarify the same .

Thanks

Parmod

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7 Replies

Amir (Learner) (4016 Points)
Replied 20 April 2010

Dear Sir,

We have not seen August month of 2010 as yet............:))

Anywaz, HRA exemption will be given from 10.08.2010.

Exemption cannot be for a period other than allowance......

All 3 things HRA & Rent & Salary SHOULD BE OF SAME PERIOD...

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Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 20 April 2010

Originally posted by : Amir
	Dear Sir, We have not seen August month of 2010 as yet............:)) Anywaz, HRA exemption will be given from 10.08.2010. Exemption cannot be for a period other than allowance...... All 3 things HRA & Rent & Salary SHOULD BE OF SAME PERIOD...

HRA should be taken from 01.08.2009.

AMIR bhai this is 01.08.2009 not 01.08.2010

regards,

ratan :)

CA Sanjay Jha (ACCOUNTS MANAGER) (914 Points)
Replied 20 April 2010

HRA exemption will be given actual not a periodical.

even if a employee working two palace then HRA exemption will be given separately actual period working for each employer separately.

Thanks

vadigineni Ravindrababu (CHIEF MANAGER ( FINANCE & Accounts )) (21 Points)
Replied 20 April 2010

Is PAN necessary from April.2010 for foreign company as receipient of remittance from india for supervision services rendered .If they do not have can we deduct withholding tax @ 20.3 % instead of 10.3% for the company of UK

V.RAVINDRA BABU

mehak miglani (trainee) (21 Points)
Replied 20 April 2010

What is the time limit for filing a restoration application to ITAT, in case of an order has been passed EX-PARTE?

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Ratti Wahal (Company Secretary) (139 Points)
Replied 21 April 2010

Dear Mr. Parmod,

HRA Exemption will be claimed on actual basis not on periodical basis, as rightly explained by Mr. Sanjeev.

Exemption will be allowed from 10.08.2009 onwards not from 01.08.2009.

Regards,

Deepak Kumar (Advisor / Consultant) (21 Points)
Replied 26 April 2010

If Rent has been paying to an individual @ 15000/- P.M.(Rent will be pay full year) in the FY 2010-11. Will TDS be deduct for April 10 to June 10? The limit for TDS on rent increasing w.e.f. 1.7.10.