House Rent Allowance - Page 5

Most Popular Exempt Allowances for Salaried Employees

Salaried Employees can avail the benefit of various exemptions with respect to the allowances given by their employers during their tenure of service like House Rent Allowance, Gratuity Allowance, Leave Encashment, Conveyance/Transport Allowance, Lea...

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Posted Under: Income Tax |

Benefit of HRA on payment of House Rent

How is the exemption on HRA calculated? When can you claim exemption on HRA? Is your landlord an NRI? When can you enjoy the twin benefits of home loan and HRA? Rent-free accommodation vs HRA...

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House Rent Allowance – A Tax planning tool for Salaried

Generally employee submits Rent receipt and rent deed to his employer to claim exemption of tax on account of HRA however recently CBDT vide circular :08/2013 dated 10 Oct 2013 has made mandatory that If annual rent paid by the employee to his/her land lord exceeds Rs 1,00,000 per annum...

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Posted Under: Income Tax |

Eight Common Myths & Misconceptions about tax

In this article we have discussed right Myth or Mis-Conceptions related to Income Tax Prevalent in the Mind of General Taxpayers related to Personal Taxation. Article Aims to clear such Mis-Conceptions. The following are some of the myths and real facts related to same:- ....

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House Rent Allowance (HRA) Taxability & calculation

Calculate your House Rent Allowance (HRA) exemption know HRA exemption Calculation Formula and download HRA Calculator in excel format for easy calculation of exempt HRA Allowance out of Total HRA received by Salaried Assessee....

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Posted Under: Income Tax |

Whats Better- House Rent Allowance or Deduction U/s 80GG?

Employees generally receive a house rent allowance (HRA) as 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. Exemption on HRA is available under Section 10(13A) of the Income Tax Act and Rule 2A of the Income Tax Rul...

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Posted Under: Income Tax |

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; (...

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Posted Under: Income Tax |

10 lesser known Income Tax Deductions

We all know about the popularly know deductions like deduction u/s. 80C & 80D. But many times we use to forget to claim many other deductions which are available under the Income Tax Act, which can reduce our tax burden significantly. In this article we discussed 10 such lesser know deductions which taxpayers tend to forget to claim while...

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Top 5 Legal ways to Save 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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Posted Under: Income Tax |

House Rent Allowance Calculator for Financial Year 2017-18

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...

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Posted Under: Income Tax |

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