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This document contains a calculation of house rent allowance (HRA) under section 10(13A) and Rule 2A of the Indian Income Tax Act. It shows the taxpayer's actual HRA received, actual rent paid, basic salary, dearness allowance, and the lower of 50% of basic plus DA or actual rent paid minus 10% of salary as the taxable HRA amount. The net taxable HRA calculated here is Rs. 30,000.
This document contains a calculation of house rent allowance (HRA) under section 10(13A) and Rule 2A of the Indian Income Tax Act. It shows the taxpayer's actual HRA received, actual rent paid, basic salary, dearness allowance, and the lower of 50% of basic plus DA or actual rent paid minus 10% of salary as the taxable HRA amount. The net taxable HRA calculated here is Rs. 30,000.
This document contains a calculation of house rent allowance (HRA) under section 10(13A) and Rule 2A of the Indian Income Tax Act. It shows the taxpayer's actual HRA received, actual rent paid, basic salary, dearness allowance, and the lower of 50% of basic plus DA or actual rent paid minus 10% of salary as the taxable HRA amount. The net taxable HRA calculated here is Rs. 30,000.
Calculation of Hosue Rent Allowance (HRA) U/s 10 (13 A) and Rule 2A
Sl.No. Particulars Amount (Rs.)/
Per Month Amount (Rs.)/ Per Annum Amount (Rs.) 1 . Actual HRA Received 4,000.00 48,000.00 48,000.00 2 . Actual Rent Paid 3,000.00 36,000.00 3 . Basic Salary 10,000.00 120,000.00 4 . Dearness Allowance 5,000.00 60,000.00 5 . Less .Deduction U/s 10(13A) & Rule 2A (Whichever is Lower) 6 . Actual HRA Paid - 48,000.00 7 . 50% or 40% (Basic + DA) [50% for Metro-Politon Cities & 40% for Others)] - 90,000.00 8 . (Rent Paid-10% of Salary ) - 18,000.00 Whichever is Lower 18,000.00 18,000.00 9 Net Amount of Taxable HRA : 30,000.00 *** Change only Yellow Marked Area as per your requirement Developed by Mr.Sujay Bag (e-mail : sujaybag09@yahoo.com)