Income Tax : From April 2026, 8 cities qualify for 50% HRA exemption. New rules impact calculations, compliance, and disclosures for salaried t...
Income Tax : The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrut...
Income Tax : Explains that HRA exemption is not permitted under the new tax regime and is fully taxable. Key takeaway: employees must compare r...
Income Tax : Summary of key tax rules for rental and house property income under the Income Tax Act, including sub-letting, deemed ownership, c...
Income Tax : Detailed summary on salary, allowances, perquisites, pension, gratuity, HRA, standard deduction, and related tax exemptions under ...
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...
Understand the calculation of House Rent Allowance (HRA) exemption under section 10(13A) of the Income Tax Act, 1961. Learn the conditions, maximum deduction limits, and an example to ensure accurate filing of your income tax return.
Discover smart tax-saving strategies for a salary of 12 lakh per annum. Learn about Section 80C deductions, HRA benefits, NPS contributions, and more. Optimize your tax liability, maximize take-home income, and achieve financial goals with effective tax planning. Stay updated on tax laws, explore deductions for medical expenses and education, and keep records for a seamless tax filing process.
Whether you are a salaried individual, self-employed professional, or business owner, this guide will equip you with the knowledge needed to navigate the intricacies of the Indian income tax system.
You can invest up to ₹1.5 lakh per year in specified instruments to avail deductions under Section 80C. For example, if you invest ₹1.5 lakh in a tax-saving fixed deposit with a lock-in period of 5 years and an interest rate of 6%, you can save tax on the entire investment amount.
Learn how to calculate HRA (House Rent Allowance) exemption under the Income Tax Act. Understand the factors like basic salary, actual rent paid, and HRA received. A comprehensive guide for employees to ensure accurate tax planning.
Maximize Tax Savings AY 2023-24: Essential Documentation for Salary Deductions – A concise guide to documents required for claiming deductions.
Discover all you need to know about HRA Exemption, eligibility and the limit with this guide. Learn how to calculate and claim your HRA and save money on taxes.
Manipur High Court held that the benefit of HRA is for the welfare of the families of the employees who are posted in difficult stations like the North Eastern region. Accordingly, denial of benefit of HRA/ additional HRA to Central Government employees posed in NE region who had kept his family in previous place is unjustified.
No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th December, 2022. OFFICE MEMORANDUM Subject: Compendium of Instructions regarding grant of House Rent Allowance to Central Government employees -regarding The Department of Expenditure, Ministry of Finance has issued various instructions from time to time regarding grant of […]
Admissibility of house rent allowances on rent paid to spouse & parents- Threadbare analysis of the chain of events Synopsys to the article: (1) Introduction to the legal framework (2) ITAT rulings and it’s consequential legal implications (3) Key takeaways have been drawn from above cited judicial pronouncements (1) Introduction to the legal framework: House […]
