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Income exempt under section 10(2a)


income exempt under section 10(2a)

Section, eligible Assessee, type of Income, limits.
Salary for the above purpose means basic.Non-rented accommodation.e., youre not paying rent For instance, for your personal convenience you live with your parents in sharepod 4 mac serial their house while your house remains unoccupied.10(16) An individual Scholarships Entire amount Scholarships should be received to meet the cost of education.7 days in case of employee of seasonal establishment.You can pay rent to your parents, however, they need to account for the same under windows memory diagnostic results log Income from House Property and will be entitled to pay tax for the same.Amount received as share of profits from the firm.Employees are members of the fund.A lot many people think that you also require rent agreement for claiming HRA tax exemption but there is no such requirement in tax laws.If both of them are paying rent and landlord issues either two separate rent receipts or only one receipt specifying the amount or proportion paid by each, then both husband and wife are entitled for HRA exemption according to the amount of rent paid.
DA Nil, hRA.
The contents of this site cannot be treated or interpreted as a statement of law.
This is a part of the salary package, in accordance with the terms and conditions of employment.But paying a rent of Rs 2,500 per month, youll have to submit the rent receipt for claiming HRA.Here there are two possibilities: 1 Your own house remains unoccupied while you stay in any other accommodation due to employment/business/profession reasons You may stay at a place it may be a different city or a different location within the same city different from the.An employee can claim exemption on his HRA under the Income Tax Act if he stays in a rented house and is in receipt of HRA from his employer.Rent above 10 of basic.e.,.Furthermore, even the requirement of production of rent receipts have been dispensed with for the salaried employees drawing HRA (house rent allowance) up to Rs 3,000 per month.(For Detailed discussion see Salaries Module) 10(15) All assessee Interest, premium ra one g one game on redemption and other payments on securities, bonds, annuity certificates, saving certificates and notified deposits.In order to claim the deduction, an employee must actually pay rent for the house which he occupies.Sham transactions can only spell trouble under scrutiny, so steer clear of these.It is to be noted that the entire HRA is not deductible.Rent paid in excess of 10 of salary (Basic DA).


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