Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims....
Income Tax : HRA exemption and home loan deductions operate under separate sections of the Income Tax Act. Taxpayers may claim both under the o...
Income Tax : The article explains that HRA exemption is unavailable under the new tax regime, which is why the HRA field may not appear in the ...
Income Tax : Explore the current status of Bengaluru's inclusion for HRA exemption under income tax laws and government policy on metropolitan ...
Income Tax : Ministry of Finance addresses misconceptions regarding CBDT's supposed special drive to reopen cases related to HRA claims, clarif...
Finance : A government employee is not entitled to get House Rent Allowance(HRA) if he or she is residing with the spouse who has been all...
Income Tax : The Tribunal upheld the disallowance of HRA exemption under Section 10(13A) as the assessee failed to submit any supporting docume...
Income Tax : ITAT restores Sunil Shigli’s appeal after CIT(A) summarily dismissed it over a supposed 4-day delay. Tribunal di...
Income Tax : The ITAT Ahmedabad has allowed an assessee's appeal, condoning a 30-month delay and ruling against the CPC's disallowance of House...
Income Tax : In the Ravindra R.V. vs. DCIT case, ITAT Bangalore remits the denial of HRA exemption under Section 10(13A) back to the AO for rec...
Income Tax : The Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of Aman Kumar Jain against the Income Tax Officer, permitting re...
SEBI : SEBI addresses employee concerns on HRA and work culture, asserting transparency and accountability amidst claims of external infl...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate ...
Income Tax : Circular No. 90-Income Tax With the issue of orders in the Government of India, Ministry of Finance (Department of Expenditure),...
Income Tax : 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 intimate...
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, […]
House Rent Allowance Calculator for Financial Year 2017-18- Just Enter Pay Slip Details and Rent paid Details, You can calculate the HRA Exemption Amount
Download Automated House Rent Exemption Calculator U/s 10(13A) in Excel.This Calculator may help taxpayers.
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.
For salaried people most of the companies provide House Rent Allowances (HRA) and many companies also provide the facility of Rent free accommodation. Many companies provide the facility of House Rent Allowance (HRA) and in case the employee opt for rent free accommodation facility then HRA is not allowed.
The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season.
Automatic Form 16 cum Income Tax Calculator for Salaried Person in excel format for Financial year 2014-15 / Assessment Year 2015-16. The Calculator calculates Automatically calculates your tax liability with surcharge and marginal relief (if any). Calculator have inbuilt capability to generates Your Form 16 alongwith Form 12BA. The Calculator further incorporated ₹ symbol at all the places where amounts are to be filled.
Download Auto Income Tax calculator for Financial Year 2014-15 / Assessment Year 2015-16 to automatically calculate your taxable income and tax on it. It all provides provide brief detail of all the information and rules for the Taxation,exemption,deduction, Section and Rules and Calculate your Tax in less than 5 Minutes.
Any salaried person would have heard of a term called HRA (House Rent Allowance). It not only gives benefit in the form of allowance but also gives an opportunity for tax exemption up to a certain limit. Almost every salaried employee takes this benefit. IT department also provides the facility of claiming tax benefit on HRA for […]
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 payment of rent for residential accommodation occupied by the assessee,
