Who is entitled HRA?
Most individuals who are salaried employees are entitled to House Rent Allowance (HRA) as a component in their salary package. If you are staying in rental accommodation, then as per Section10 (13A) of the income tax act, you can claim a tax exemption while filing your returns.
Can government employees claim HRA?
Under Section 10 (13A) of the Income Tax Act, 1961, a part of the HRA is exempted. Employees from both the private and public sector claim HRA exemption benefit every year. As per a media report, government employees and officials of the state don’t pay tax on the HRA.
Can HRA be claimed for two houses?
Yes, you can claim HRA exemptions on two houses, subject to the fulfilment of certain conditions.
What is the present HRA for central govt employees?
House Rent Allowance (HRA) calculation based on 7th pay commission. HRA is paid @24\%, 16\% & 8\% for X, Y & Z cities respectively. HRA not to be less than Rs 5400, Rs 3600 and 1800 for X, Y and Z cities, calculated @30 percent, 20 percent and 10 percent of minimum pay of Rs 18,000.
Can a husband and wife claim HRA in India?
Warm greetings!!! Husband and wife both can claim the HRA only if they are not staying in same house. Rent receipt should be original. If the monthly rent is more than Rs 1 lakh and above in a year PAN No. and copy of the PAN card is must.
Can a couple draw HRA if they work in the same station?
For example, both are entitled to draw HRA even if they work in the same station, and live together but not provided with Government accommodation. But when comes to Allotment of Quarters maintained by Government, only one residence will be provided to them except in the case of Judicial separation.
Does marital status matter when applying for HRA?
The terms of employment of one org is different from the other. Each emp should be treated individually rather than seeing his/her marital status. If the terms of employment describes that he is eligible for HRA, whether his wife is claiming etc etc should not be an issue.
Can I claim HRA on my income tax return?
So you can claim the balance amount as HRA exemption provided you should show in your rent receitps that you have paid such amount. HRA is an allowance and hence taxable.