House Rent Allowance articles

House Rent Allowance – Income Tax provisions

In this article I have discussed provisions regarding exemption from House Rent Allowance -As per Section 10 (13A) and rule 2A exemption in respect of house rent allowance is based upon the following –1) An amount equal to 50 per cent of the salary, where the residential house is situated at Bombay, Kolkata, Delhi or Chennai, and an am...

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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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House Rent Allowance – Case Study and Provisions

Employees generally receive a House Rent Allowance (HRA) from their employers to meet the cost of a rented house taken by the employee for his stay. This allowance is generally a part of the salary package or as stated in the terms and conditions of the employment....

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Receiving HRA? Rent a house to save Income Tax

With the cascading cost of living, renting an accommodation is a major financial outflow for an individual. However, the same rented accommodation can help save some tax for salaried employees. In current salary packages, employees receive house rent allowance (HRA) to meet the cost of renting an accommodation. A salaried employee staying...

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House Rent Allowance – Taxability & Exemption

In my today’s article I will discuss about the House Rent allowance (HRA). Now the catch here is that you an employee might trust your employer for allowing you the HRA, but at the same time you should know the right way of treatment of HRA in your Income Statement while you are filing your Income Tax Return....

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HRA: How to compute exemption

What is House Rent Allowance? Employees generally receive a house rent allowance (HRA) from their employers. This is a part of the salary package, in accordance with the terms and conditions of employment. HRA is given to meet the cost of a rented house taken by the employee for his stay....

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Posted Under: Income Tax |

Taxability of Allowances under Income from Salary

Articles deals with Taxability of House Rent Allowance , Children Education Allowance, Hostel Allowance, Transport Allowance, Outstation Allowance, Under Ground Allowance, Traveling Allowance, Daily Allowance, Conveyance Allowance, Helper Allowance, Uniform Allowance and Academic Allowance....

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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...

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Posted Under: Income Tax |

Time to declare house rent payments

With the year coming to an end, salaried people rush to submit their tax declarations to their employers. It hurts when your employer deducts tax from your reward for 30 days of hard work. In order to save tax, one has to jump through all kinds of hoops; investments in ELSS, fresh insurance policies, PPF, etc. House Rent Allowance (HRA) i...

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Posted Under: Income Tax |

Claim Tax Benefit on HRA as well as Tax Deduction on Home Loan

For some people, the tax-planning season has just started. You know that house rent allowance (HRA) and the deduction related to home loan repayment can lower your tax liability. You will be pleased to know, in certain cases, you can avail tax benefits from both of these....

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Posted Under: Income Tax |

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