Comments on: 4 Rules you must remember for HRA Exemption http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/ Plan Your Investment Thu, 29 Jul 2010 12:17:02 +0000 hourly 1 http://wordpress.org/?v=3.0 By: amita http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-14201 amita Mon, 28 Jun 2010 10:10:20 +0000 http://www.thinkplaninvest.com/?p=799#comment-14201 if employer did not give HRA exemption in their 16(A) form , how to claim HRA exemption by salaried person in their return filing. there is ITR NO. 1 for salaried person.please clarify . if employer did not give HRA exemption in their 16(A) form , how to claim HRA exemption by salaried person in their return filing.
there is ITR NO. 1 for salaried person.please clarify .

]]> By: amita http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-14200 amita Mon, 28 Jun 2010 10:08:52 +0000 http://www.thinkplaninvest.com/?p=799#comment-14200 if employer did not give HRA exemption in their 16(A) form , how to claim HRA exemption by salaried person in their return filing. there is ITR NO. 1 for salaried person. if employer did not give HRA exemption in their 16(A) form , how to claim HRA exemption by salaried person in their return filing.
there is ITR NO. 1 for salaried person.

]]> By: senthilnathan http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-13643 senthilnathan Tue, 08 Jun 2010 16:03:33 +0000 http://www.thinkplaninvest.com/?p=799#comment-13643 myself and my wife are working in same department in same station. we are staying in TNHB Quarters and so iam claiming the HRA exemption in my salary. My wife parents are staying in chennai in rented house for which she is paying the rent. whether she can claim the hra exemption for that rent paid on behalf of her parents. please clarify my doubt sir... thank you.. myself and my wife are working in same department in same station. we are staying in TNHB Quarters and so iam claiming the HRA exemption in my salary. My wife parents are staying in chennai in rented house for which she is paying the rent. whether she can claim the hra exemption for that rent paid on behalf of her parents. please clarify my doubt sir…
thank you..

]]> By: Meenakshi Gnaguly http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-13365 Meenakshi Gnaguly Sat, 29 May 2010 12:39:55 +0000 http://www.thinkplaninvest.com/?p=799#comment-13365 I stay in my Company provided quarter and they deduct HRA from my salary. My spouse stay in another location and in rented house. Can i claim HRA exemption for my spouse who pays the rent? or do i also need to stay in a rented house. Kindly help. I stay in my Company provided quarter and they deduct HRA from my salary. My spouse stay in another location and in rented house. Can i claim HRA exemption for my spouse who pays the rent? or do i also need to stay in a rented house. Kindly help.

]]> By: Isma http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-13336 Isma Thu, 27 May 2010 10:11:32 +0000 http://www.thinkplaninvest.com/?p=799#comment-13336 Kindly let me know about the JC designation wise. Kindly let me know about the JC designation wise.

]]> By: Himanshu http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-13268 Himanshu Mon, 24 May 2010 11:57:38 +0000 http://www.thinkplaninvest.com/?p=799#comment-13268 I have purchased a house after availing home loan. Next financial year I shall pay a total EMI of Rs 18 lakh, out of which interest payment shall be approx 15 lakh. My intention was to move into my own house. However, it seems that IT deduction on interest is limited to only 1.5 lakh in the case of self-occupied property. But it is is unlimited (after adjustment for rent received) in case one rents the property out. In this case, is it possible to rent out my flat to my mother (retired) at a fair market rate (likely to be Rs 8 lakh pa) and claim the enhanced interest deduction benefit? As per my calculation it should be possible to show a negative house rent income of (rent - 30% of rent - interest paid). Please advise. I have purchased a house after availing home loan. Next financial year I shall pay a total EMI of Rs 18 lakh, out of which interest payment shall be approx 15 lakh.

My intention was to move into my own house. However, it seems that IT deduction on interest is limited to only 1.5 lakh in the case of self-occupied property. But it is is unlimited (after adjustment for rent received) in case one rents the property out.

In this case, is it possible to rent out my flat to my mother (retired) at a fair market rate (likely to be Rs 8 lakh pa) and claim the enhanced interest deduction benefit? As per my calculation it should be possible to show a negative house rent income of (rent – 30% of rent – interest paid).

Please advise.

]]> By: MOHAN http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12712 MOHAN Sun, 25 Apr 2010 13:39:38 +0000 http://www.thinkplaninvest.com/?p=799#comment-12712 Hi, I got a flat in Pune on loan & working in banglore staying in a rented place(not owned by me).Currently booked a flat in banglore which will two years for poession paying EMI for that..Pls confirm me following.. 1.Can i claim income loss/gain on both the properties in Pune & Bangalore? 2.Can i claim HRA exemp. being salary component? Hi,
I got a flat in Pune on loan & working in banglore staying in a rented place(not owned by me).Currently booked a flat in banglore which will two years for poession paying EMI for that..Pls confirm me following..

1.Can i claim income loss/gain on both the properties in Pune & Bangalore?
2.Can i claim HRA exemp. being salary component?

]]> By: Raman http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12419 Raman Mon, 12 Apr 2010 12:54:14 +0000 http://www.thinkplaninvest.com/?p=799#comment-12419 I m staying in a rented house for which i m getting HRA tax exemption. I have booked a construction liked flat. i'll get the posession in sept 2011. Now i planning for the home Please let me know if i can get the tax rebate on HRA as well as on interest paid for Home loan repayment I m staying in a rented house for which i m getting HRA tax exemption. I have booked a construction liked flat. i’ll get the posession in sept 2011. Now i planning for the home

Please let me know if i can get the tax rebate on HRA as well as on interest paid for Home loan repayment

]]> By: Sarfaraz http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12292 Sarfaraz Tue, 06 Apr 2010 09:00:47 +0000 http://www.thinkplaninvest.com/?p=799#comment-12292 Dear Krishna, The information provided by you is very informative. However, I am a non-finance / accounting person but dealing with HR aspects. I need one clarification which perhaps has not been raised above. I am planning a tax-friendly compensation structure but need your assistance. Can HRA be paid to field-employees (helpers/workers/technicians) as part of compensation structure, who stay at locations other than their main residence and they are constantly moving from one location to another - say every two or three months or six months? They stay in rented houses for which the landlord will not be able to provide any receipts - partially because the landlord is illiterate - the houses are also kucha-puca hutments/shacks, etc. If so, how much as a percentage and upper limit can be paid to them on a monthly basis with attracting income tax. I Appreciate your sharing of knowledge. Thanks. Sarfaraz Dear Krishna,
The information provided by you is very informative. However, I am a non-finance / accounting person but dealing with HR aspects. I need one clarification which perhaps has not been raised above.
I am planning a tax-friendly compensation structure but need your assistance.
Can HRA be paid to field-employees (helpers/workers/technicians) as part of compensation structure, who stay at locations other than their main residence and they are constantly moving from one location to another – say every two or three months or six months? They stay in rented houses for which the landlord will not be able to provide any receipts – partially because the landlord is illiterate – the houses are also kucha-puca hutments/shacks, etc. If so, how much as a percentage and upper limit can be paid to them on a monthly basis with attracting income tax.
I Appreciate your sharing of knowledge.
Thanks.
Sarfaraz

]]> By: Sachin Chaudhry http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12264 Sachin Chaudhry Sun, 04 Apr 2010 09:58:45 +0000 http://www.thinkplaninvest.com/?p=799#comment-12264 Dear Krishna, kindly explain the following: 1) I have a flat in NCR in joint name of mine and my brother where my parents are currently staying...I am shortly about to be posted to Delhi, then i intend to stay in that flat only which is in my joint name...Shall I be entitled to receive HRA from my department while living in own named house. 2) Will I be entitled to claim HRA exemption while filling ITR. 3) Since its in my joint name with my brother, what portion of that loan me and my brother can claim as rebate under Sec 24(B) and 80 (C) since we both are equal partners though I am the first owner... Regards Awaiting reply Sachin Dear Krishna,
kindly explain the following:
1) I have a flat in NCR in joint name of mine and my brother where my parents are currently staying…I am shortly about to be posted to Delhi, then i intend to stay in that flat only which is in my joint name…Shall I be entitled to receive HRA from my department while living in own named house.
2) Will I be entitled to claim HRA exemption while filling ITR.
3) Since its in my joint name with my brother, what portion of that loan me and my brother can claim as rebate under Sec 24(B) and 80 (C) since we both are equal partners though I am the first owner…
Regards
Awaiting reply
Sachin

]]> By: Saket http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12188 Saket Tue, 30 Mar 2010 07:11:40 +0000 http://www.thinkplaninvest.com/?p=799#comment-12188 Hi, I have taken a home loan to buy a under-construction apartment in Bangalore east taluk (Bangalore district) and the possession date would be around March 2012. And till that time, I would be staying in a rented apartment in Bangalore city where I work (not owned by me). Then, in such a case, will I be allowed to claim all the following benefits from the Income Tax in the financial year 2010-11 & 2011-12 : Tax benefit on principal repayment under Section 80C Tax benefit on interest payment under Section 24 HRA Exemption Once I get the possession in March 2012, then would I be able to continue claiming the following benefits from the Income Tax in the financial year 2011-12 & beyond (till my EMI payments continue) : Tax benefit on principal repayment under Section 80C Tax benefit on interest payment under Section 24 Regards, Saket Hi,

I have taken a home loan to buy a under-construction apartment in Bangalore east taluk (Bangalore district) and the possession date would be around March 2012. And till that time, I would be staying in a rented apartment in Bangalore city where I work (not owned by me). Then, in such a case, will I be allowed to claim all the following benefits from the Income Tax in the financial year 2010-11 & 2011-12 :

Tax benefit on principal repayment under Section 80C
Tax benefit on interest payment under Section 24
HRA Exemption

Once I get the possession in March 2012, then would I be able to continue claiming the following benefits from the Income Tax in the financial year 2011-12 & beyond (till my EMI payments continue) :

Tax benefit on principal repayment under Section 80C
Tax benefit on interest payment under Section 24

Regards,
Saket

]]> By: Saket http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12187 Saket Tue, 30 Mar 2010 07:09:47 +0000 http://www.thinkplaninvest.com/?p=799#comment-12187 Hi, I have taken a home loan to buy a under-construction apartment in Bangalore east taluk (Bangalore district) and the possession date would be around March 2012. And till that time, I would be staying in a rented apartment (not owned by me). Then, in such a case, will I be allowed to claim all the following benefits from the Income Tax in the financial year 2010-11 & 2011-12 : Tax benefit on principal repayment under Section 80C Tax benefit on interest payment under Section 24 HRA Exemption Once I get the possession in March 2012, then would I be able to continue claiming the following benefits from the Income Tax in the financial year 2011-12 & beyond (till my EMI payments continue) : Tax benefit on principal repayment under Section 80C Tax benefit on interest payment under Section 24 Regards, Saket Hi,

I have taken a home loan to buy a under-construction apartment in Bangalore east taluk (Bangalore district) and the possession date would be around March 2012. And till that time, I would be staying in a rented apartment (not owned by me). Then, in such a case, will I be allowed to claim all the following benefits from the Income Tax in the financial year 2010-11 & 2011-12 :

Tax benefit on principal repayment under Section 80C
Tax benefit on interest payment under Section 24
HRA Exemption

Once I get the possession in March 2012, then would I be able to continue claiming the following benefits from the Income Tax in the financial year 2011-12 & beyond (till my EMI payments continue) :

Tax benefit on principal repayment under Section 80C
Tax benefit on interest payment under Section 24

Regards,
Saket

]]> By: manoj Aggarwal http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-12182 manoj Aggarwal Tue, 30 Mar 2010 04:14:33 +0000 http://www.thinkplaninvest.com/?p=799#comment-12182 have one quiery can current employer given to hra exaimtion be half of previous employer. supose A woriking is five month in delhi than he join is gurgaon a new co. pl let me know can last five month hra exaimption given to person. have one quiery can current employer given to hra exaimtion be half of previous employer. supose A woriking is five month in delhi than he join is gurgaon a new co. pl let me know can last five month hra exaimption given to person.

]]> By: Vandana http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11890 Vandana Fri, 19 Mar 2010 04:43:26 +0000 http://www.thinkplaninvest.com/?p=799#comment-11890 Hello Tell me few about P.F details.. P.F contribution by employee is exempted from tax and same doubt regarding employer contribution .. Hello
Tell me few about P.F details.. P.F contribution by employee is exempted from tax and same doubt regarding employer contribution ..

]]> By: Philip http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11830 Philip Wed, 17 Mar 2010 06:55:52 +0000 http://www.thinkplaninvest.com/?p=799#comment-11830 Dear Sir, I am staying in Mumbai on rent for Rs.5500 and my parents also staying on rent for Rs. 4500/- , both the rent is paid by me. can i claim both Dear Sir,
I am staying in Mumbai on rent for Rs.5500 and my parents also staying on rent for Rs. 4500/- , both the rent is paid by me.
can i claim both

]]> By: renu http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11781 renu Mon, 15 Mar 2010 17:32:30 +0000 http://www.thinkplaninvest.com/?p=799#comment-11781 i stay in a rented place as a paying guest. In paying guest we do not have rent agreement. Can i show my rent receipts to avail tax benefit. Or is rent agreement mandatory. i stay in a rented place as a paying guest. In paying guest we do not have rent agreement. Can i show my rent receipts to avail tax benefit. Or is rent agreement mandatory.

]]> By: Manohar Ingle http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11707 Manohar Ingle Sat, 13 Mar 2010 02:26:19 +0000 http://www.thinkplaninvest.com/?p=799#comment-11707 i have already submitted my income tax statement to my employer but didn't claim house rent exemption in that statement, though my family is staying at nagpur in a rented house. i do have the house rent receipt. presently i am not working at nagpur. so can i claim house rent exemption while filing income tax return, for the house where my family is staying. i have already submitted my income tax statement to my employer but didn’t claim house rent exemption in that statement, though my family is staying at nagpur in a rented house. i do have the house rent receipt. presently i am not working at nagpur. so can i claim house rent exemption while filing income tax return, for the house where my family is staying.

]]> By: Suddha Satta Ray http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11647 Suddha Satta Ray Wed, 10 Mar 2010 15:00:28 +0000 http://www.thinkplaninvest.com/?p=799#comment-11647 Hi, In spite of producing the rent receipts (all in original) to my employer for claiming HRA exemption under U/s 10, they still did not exempt a single rupee. The reason they mentioned is that Lease Agreement was required. Now, how can I get the additional tax amount back which I had to pay because of not getting HRA exemption.? Can I file a return? I have already deposited my rent bills to my employer. How will I claim the additional tax I paid now? Please advise. Really confused and frustrated (with my employer). Regards. S Ray Hi,
In spite of producing the rent receipts (all in original) to my employer for claiming HRA exemption under U/s 10, they still did not exempt a single rupee. The reason they mentioned is that Lease Agreement was required. Now, how can I get the additional tax amount back which I had to pay because of not getting HRA exemption.? Can I file a return? I have already deposited my rent bills to my employer. How will I claim the additional tax I paid now?

Please advise. Really confused and frustrated (with my employer).
Regards.
S Ray

]]> By: Manohar Ingle http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11443 Manohar Ingle Wed, 03 Mar 2010 21:33:06 +0000 http://www.thinkplaninvest.com/?p=799#comment-11443 I am posted at salekasa gondia and living in a rented house where as my family is residing at Nagpur in a rental accommodation. I do visit Nagpur biweekly to look after my family. I wish to avail HRA rebate for Nagpur house. Am i entitled for it. I am posted at salekasa gondia and living in a rented house where as my family is residing at Nagpur in a rental accommodation. I do visit Nagpur biweekly to look after my family. I wish to avail HRA rebate for Nagpur house. Am i entitled for it.

]]> By: Yogesh http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11351 Yogesh Sun, 28 Feb 2010 12:26:18 +0000 http://www.thinkplaninvest.com/?p=799#comment-11351 Hi, I was working in mumbai and my perents were staying at pune in flat owned by me. Now i shifted to Pune. But i want to stay in Rented House. Can i claim 1) Repay of Capital (1,00,000) 2) Interest (1,50,000) 3) HRA ( 1,20,000) Hi,
I was working in mumbai and my perents were staying at pune in flat owned by me. Now i shifted to Pune. But i want to stay in Rented House. Can i claim

1) Repay of Capital (1,00,000)
2) Interest (1,50,000)
3) HRA ( 1,20,000)

]]> By: Raju http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11332 Raju Sat, 27 Feb 2010 20:42:42 +0000 http://www.thinkplaninvest.com/?p=799#comment-11332 Hi, Nice information. I have some queries, hope you can help me. I am working in Mumbai. My CTC is Rs.10,90000. Of which my HRA monthly is 17000 and Basic is Rs 34,000. My monthly gross is Rs 79,000 I am staying in a house with my parents and brother. The house is co-owned by me and my brother. My questions are: 1) Can I claim HRA by paying rent to my brother? We don't have any house loan against it 2) If I cannot claim HRA, then how much tax will be deducted from my HRA component? ie Rs17,000 is HRA. Will I be not getting any HRA money if I cannot claim HRA? 3) As now you know my montly gross, can you give me my estimate take home salary, considering I make investment of 1 lac p.a Thanks. Hi, Nice information. I have some queries, hope you can help me.

I am working in Mumbai. My CTC is Rs.10,90000. Of which my HRA monthly is 17000 and Basic is Rs 34,000. My monthly gross is Rs 79,000

I am staying in a house with my parents and brother. The house is co-owned by me and my brother.

My questions are:

1) Can I claim HRA by paying rent to my brother? We don’t have any house loan against it
2) If I cannot claim HRA, then how much tax will be deducted from my HRA component? ie Rs17,000 is HRA. Will I be not getting any HRA money if I cannot claim HRA?
3) As now you know my montly gross, can you give me my estimate take home salary, considering I make investment of 1 lac p.a

Thanks.

]]> By: Tejas http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11320 Tejas Sat, 27 Feb 2010 10:42:46 +0000 http://www.thinkplaninvest.com/?p=799#comment-11320 Hi, I have resently purchase a house at Pune (on Bank Loan) but i am working in gujarat & received HRA from my employer ? My parents are living in my Pune's House so can i take HRA Deduction, Repayment Of My Loan Installments & Interest on Loan??? Hi,

I have resently purchase a house at Pune (on Bank Loan) but i am working in gujarat & received HRA from my employer ? My parents are living in my Pune’s House so can i take HRA Deduction, Repayment Of My Loan Installments & Interest on Loan???

]]> By: Prashant http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11269 Prashant Thu, 25 Feb 2010 09:04:07 +0000 http://www.thinkplaninvest.com/?p=799#comment-11269 Please tell me the calculation HRA taxable amount with an example Please tell me the calculation HRA taxable amount with an example

]]> By: sandra http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11234 sandra Wed, 24 Feb 2010 05:56:36 +0000 http://www.thinkplaninvest.com/?p=799#comment-11234 Can i give rent to my mother in law and clain HRA for the same. I give the HRA amount to her annually and take receipts. Can i give rent to my mother in law and clain HRA for the same. I give the HRA amount to her annually and take receipts.

]]> By: kumar http://www.thinkplaninvest.com/2009/04/4-rules-you-must-remember-for-hra-exemption/comment-page-3/#comment-11233 kumar Wed, 24 Feb 2010 05:54:42 +0000 http://www.thinkplaninvest.com/?p=799#comment-11233 i have one quiery i have a own house in bangalore and iam staying in the house and iam availing the tax empetion on interst paid and principle amount pait towards house loan. My question is iam paying the rent to my parents who stay in hyderabad from my salary can i avail the HRA EXEMPTION for the rent iam paying for my parents who are dependent on me? i have one quiery i have a own house in bangalore and iam staying in the house and iam availing the tax empetion on interst paid and principle amount pait towards house loan. My question is iam paying the rent to my parents who stay in hyderabad from my salary can i avail the HRA EXEMPTION for the rent iam paying for my parents who are dependent on me?

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