cpc

hra


Hello,

I am geeting salary around Rs. 35000/- . the structure is Basic Pay - 22,000 and Spacial Allowance- 13,000

In this case when i file for income tax, how much i can show my house rent.

 

thanks,

Biswajit

 
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FIN

To claim exemption rent receipt for beginning and ending month in the accounting should be enclosed.

For metro city it may be taken as 50% of Salary, and for Non Metro 40%.

Salary may be computed as Basic+ DA+ commission on fixed percentage of turnover.

Min of actual HRA received from employer, actual rent paid-10%, and 50% of basic salary if employee lives in Metro and 40% of basic salary if it is non metro may be taken for calculation.

If you are filing return thru your CA or Income Tax Lawyer he shall help you.

Valuable advice of learned experts/members is sought.

 

 
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hi,

My office is not paying any hra componets. i have only basic+SP allowance. in this case how much i can show HRA for income tax file filling.

thanks,

 
Reply   
 
FIN

It is believed that you are not working on contractual terms.

Ask your company to provide you the salary slip with complete break up of your salary, and a form 16 accordingly.

Your CA and Income Tax Lawyer can guide you on how to write your expenses and exemptions, and the liablity on the part of the company as well.

The limits pertaining to HRA have been mentioned.

 
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