Salaried employees in India can claim tax deductions on the house rent allowance (HRA)Â component of their monthly salary under Section 10(13A), Rule number 2A of the Income Tax Act. However, to claim this exemption, … READ FULL STORY
The annual salary an employee gets from his employer is divided into various components. The component that is paid for renting an accommodation is known as the House Rent Allowance or HRA. HRA is … READ FULL STORY
Your basic salary is entirely taxable. However, this is not true for some other components of your salary, including the HRA component. What is HRA? Almost always, house rent allowance (HRA) is an … READ FULL STORY
Since house rent allowance or HRA is almost always an integral part of a company’s salary structure, knowing the nitty-gritty of HRA calculation and HRA exemption is crucial for tax savings purposes. How so? … READ FULL STORY
Update on February 1, 2019: The exemption for TDS on house rent increased from Rs 1.8 lakhs to Rs 2.40 lakhs. There will also be an exemption on the notional rent of second homes which are … READ FULL STORY
The Mumbai Income Tax Tribunal delivered a very important decision on the claim for tax exemption on HRA (House Rent Allowance). Let us analyse the decision in details, with its ramification and relevance for … READ FULL STORY
