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
Under India’s income tax laws, salaried as well as self-employed individuals can claim deductions against house rent payment under several sections, including Section 80GG and Section 10 (13A). See also: All about Section 80EEA … READ FULL STORY
Salaried individuals in India are asked by their employers to give proof of previously declared investments before they go for tax deduction from their salaries. If you are living on rent and house rent … 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
To meet the high costs of living in rented accommodations, employers pay house rent allowance (HRA) to their employees. India’s income tax laws also provide benefits to people who do not own a house … READ FULL STORY
The finance bill, was presented in the parliament on February, 29, 2016. It became a law, after receiving the president’s assent, from May 14, 2016. This Finance Act 2016, has certain provisions, which will … READ FULL STORY
