House Rent Allowance

Section 80GG Deduction On Rent paid

Income Tax - Section 80GG allows the employee to a deduction in respect of house rent paid by him for his own residence. Such deduction is permissible subject to the following conditions :- (a) the employee has not been in receipt of any House Rent Allowance specifically granted to him which qualifies for exemption under section 10(13A) of the Act; (...

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House Rent Allowance (HRA) Taxability & calculation

Income Tax - HRA Calculation- Calculate your House Rent Allowance (HRA) exemption, know HRA exemption Calculation Formula and download HRA Calculator in excel format....

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All you wanted to know about Tax Exemption on HRA

Income Tax - Along with the rest of the country, the salaried class waits for the annual budget to be announced each year. They look up to the government to provide them with higher take home pay by way of increase in tax free income and lowering of tax slabs. They also look for some relief through savings options providing tax benefits. Sometimes the...

Read More

Top 5 Legal ways to Save Tax

Income Tax - The Income Tax Act allows a salaried individual to claim certain deductions in order to save on taxes. However, to avail the benefits of such deductions, the individual must ensure proper tax planning during the year. Such deductions are allowed on the Gross Total Income (GTI), and income tax is levied on the balance income, […]...

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Income tax benefits available to Salaried Persons for A.Y. 2018-19

Income Tax - Articles compiles List of benefits available to Salaried Persons for AY 2018-19 which includes 1. House Rent Allowance, Children Education Allowance, Hostel Expenditure Allowance, Transport Allowance and other allowances 2. Perquisites...

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No HRA for government employees staying with spouse in government allotted flat

Income Tax - A government employee is not entitled to get House Rent Allowance(HRA) if he or she is residing with the spouse who has been alloted a government accommodation, the Delhi High Court said on Tuesday. The Court’s decision came on a petition filed by a government employee challenging the Centre’s order directing her to refund...

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No HRA Exemption on non genuine Rent Paid to Mother

Mrs. Meena Vaswani Vs ACIT (ITAT Mumbai) - Assessee had claimed deduction u/s 10(13A) of 1961 Act which is a wrong claim as no rent was paid by the assessee and the said alleged rent of Rs. 31,500/- per month being paid to mother was shown only to take exemption of HRA u/s 10(13A) of 1961 Act. ...

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Salary Cannot be taxed as Income from other sources without proving absence of master and servant relationship

Commissioner of Income Tax, New Delhi Vs UK. Bose (Delhi High Court) - In the returns the assessee had claimed deduction under Section 10(13A) on the basis of the rent paid by him which has been debited from his salary directly. This Section exempts any special allowances specifically granted to an assessee by his employer to meet expenditure actually incurred on payme...

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HRA allowable if rent is actually paid by the assesee

Commissioner Of Income-Tax Vs P.D. Singhania (Allahabad High Court) - From a reading of the clauses (a) and (b) of the Explanation to section 10(13A), which were inserted by the Taxation Laws (Amendment) Act, 1984 with retrospective effect from 1-4-1976, it is absolutely clear that in order to claim deduction under sub-section (13A)...

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Short Deduction of TDS – Assessee cannot be treated in default if acted in bonafide manner

ACIT Vs Hughes Software Systems Ltd. (ITAT Delhi) - The fact that there is a short deduction of tax in the present case where it was linked with the performance incentive paid to the employee on the basis of achievement of fixed percentage, the estimated TDS deducted in a bona fide manner as per the settled legal position cannot be faulted with....

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S. (10(13A) ‘Salary’ does not include commission for Calculation of HRA

Commissioner Of Income-Tax Vs H.V. Yazdi (Calcutta High Court) - Contribution to be made to the provident fund must be the proportionate amount of salary paid to the employees. Salary was a fixed monthly payment whereas the commission was not a fixed payment and could not be included within the scope and ambit of the term salary ....

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Circular No. 90-Income Tax dated 26-6-1972

Circular No. 90-Income Tax - (26/06/1972) - Circular No. 90-Income Tax With the issue of orders in the Government of India, Ministry of Finance (Department of Expenditure), O.M. No. F. 1(34) E-II(B)/68, dated 18-1-1969, "dearness pay" is considered as "pay" for purposes of pension and gratuity and compensatory allowance (including house ren...

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CBDT Letter : F. No. 12/19/64-IT(A-I), dated 2-1-1967

Letter : F. No. 12/19/64-IT(A-I - (02/01/1967) - Reference is invited to the Central Board of Direct Taxes letter F. No. 12/19/64-IT(B), dated 22-2-1966 , where in it was intimated that the house rent allowance given at flat rates may be treated as exempt from income-tax without verification of the fact whether the employee concerned had paid any ...

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CBDT Letter : F. No. 12/19/64-IT(B), dated 22-2-1966 – HRA

Letter : F. No. 12/19/64-IT(B) - (22/02/1966) - 1. Reference is invited to the Board’s letter No. 12/19/64-IT(B), dated 8-1-1965, addressed to all State Governments.  A question has been raised whether the house rent allowance at flat rates sanctioned to Central Government servants without verification of rent receipts vide the Ministry of Fin...

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Recent Posts in "House Rent Allowance"

Section 80GG Deduction On Rent paid

Section 80GG allows the employee to a deduction in respect of house rent paid by him for his own residence. Such deduction is permissible subject to the following conditions :- (a) the employee has not been in receipt of any House Rent Allowance specifically granted to him which qualifies for exemption under section 10(13A) of the Act; (...

Read More
Posted Under: Income Tax |

House Rent Allowance (HRA) Taxability & calculation

HRA Calculation- Calculate your House Rent Allowance (HRA) exemption, know HRA exemption Calculation Formula and download HRA Calculator in excel format....

Read More
Posted Under: Income Tax | ,

All you wanted to know about Tax Exemption on HRA

Along with the rest of the country, the salaried class waits for the annual budget to be announced each year. They look up to the government to provide them with higher take home pay by way of increase in tax free income and lowering of tax slabs. They also look for some relief through savings options providing tax benefits. Sometimes the...

Read More
Posted Under: Income Tax |

Top 5 Legal ways to Save Tax

The Income Tax Act allows a salaried individual to claim certain deductions in order to save on taxes. However, to avail the benefits of such deductions, the individual must ensure proper tax planning during the year. Such deductions are allowed on the Gross Total Income (GTI), and income tax is levied on the balance income, […]...

Read More
Posted Under: Income Tax |

Income tax benefits available to Salaried Persons for A.Y. 2018-19

Articles compiles List of benefits available to Salaried Persons for AY 2018-19 which includes 1. House Rent Allowance, Children Education Allowance, Hostel Expenditure Allowance, Transport Allowance and other allowances 2. Perquisites...

Read More

No HRA Exemption on non genuine Rent Paid to Mother

Mrs. Meena Vaswani Vs ACIT (ITAT Mumbai)

Assessee had claimed deduction u/s 10(13A) of 1961 Act which is a wrong claim as no rent was paid by the assessee and the said alleged rent of Rs. 31,500/- per month being paid to mother was shown only to take exemption of HRA u/s 10(13A) of 1961 Act. ...

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HRA Taxability & Section 80GG Deduction on Rent Paid

House Rent Allowance (HRA) is a common component of the salary structure. Although HRA is a part of the salary, unlike basic salary, is not entirely taxable. Subject to certain conditions, a part of HRA gets exempted under Section 10 (13A) of the Income-tax Act. The tax benefit on HRA is available only to a salaried individual who has the...

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Posted Under: Income Tax | ,

Tax Benefits on Home Loan

Article deals with Tax Benefit on Home loan under section 80C for Loan Principal Payment, Section 24 for Interest Payment, Tax planning of Home Loan & HRA....

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Posted Under: Income Tax | ,

Tax Treatment of Income from Salary in Brief

I. Income under the head Salaries 1.1 Salary is defined to include: a) Wages b) Annuity c) Pension d) Gratuity e) Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages f) Advance of Salary g) Leave Encashment h) Annual accretion to the balance of Recognized Provident Fund i) Transferred balance […]...

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Posted Under: Income Tax | ,

Income Tax Benefits to Residents & Indian Companies

Resident Benefits allowable A resident person is chargeable to tax in respect of his global income. If Income-tax Act enlarges the scope of taxable income of a resident person, it extends certain benefits and privileges to a resident person as well, inter-alia, an option to compute income on presumptive basis, deductions under Chapter VI-...

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Posted Under: Income Tax | ,
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