Rebate in income tax in house rent

RANJAN DEY CHOUDHURY (Querist) 16 December 2015 This query is : Resolved
Our department is permitted to rebate only for 10% of the total amount of HRA drawn during the FY. My query is How much amt will get rebate in tax and upto what extent. Is our department is correct. Please clarify.

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Dr J C Vashista (Expert) 16 December 2015
Post this query in CA club.

K.S.Srinivas (Expert) 18 December 2015

HRA Exemption u/s 10 (13) Rule 2 A:

A) HRA Received
B) 40% of Salary
C) Rent paid in excess of 10% of
Salary (i – ii)
i) Actual Rent Paid
ii) Less 10% of salary (PAY+DA)

Least of the above three (i.e. A, B, C)

Rajendra K Goyal (Expert) 19 December 2015
Go through the IT department circular on TDS deductions.

Agree with the brief given by expert K.S.Srinivas.

T. Kalaiselvan, Advocate Online

(Expert) 26 December 2015
The calculation formula has been clearly given by expert Mr. Srinivas, you may note it down.

Guest (Expert) 26 December 2015
In fact, academic problem of the querist is solved. Otherwise, no sane DDO commits such type of mistake, which he has tried to indicate hypothetically, as every year the Heads of each of the departments receive voluminous circular on TDS from the MOF that contains each such information about exemptions or rebates, etc..

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