Does the Indian tax law allow the individual to pay House Rent to his/her Parents. Or is the exempted only when you are paying rent to a landlord.
2007-01-30 06:25:37 · 5 answers · asked by Achilies 1 in Business & Finance ➔ Taxes ➔ India
Least of the following is exempt
- actual HRA
- excess rent paid over 10% if the salary(Basic + DA)
- 50% of your salary(Basic +DA) if you reside in Delhi, Mimbai, Kolkatta, Chennai or
40% of your salary(Basic +DA) if you reside anywhere else in India
For more contact at agarwalapurav@yahoo.co.in
2007-01-30 20:21:29 · answer #1 · answered by apurav a 3 · 1⤊ 0⤋
Whichever is less thats expemted or 40% of •Actual house rent paid by that individual
•Rent paid for the accommodation over 10% of the salary
•50% of the salary if house is placed at Delhi, Mumbai, Kolkata, Chennai or 40% of the salary in it is placed in any other city
2007-01-31 00:12:55 · answer #2 · answered by suresh b 3 · 0⤊ 0⤋
hra means house rent allonce
i dont knok indian tax law work
2007-01-30 14:36:04 · answer #3 · answered by PRAKASH S 2 · 0⤊ 0⤋
Hi Dear, You have got the right person for your queries. Since I am a Chartered Accountant, I can surely understand and help you better to solve your problem and make your life easy. For your any problem you can contact me at 9810329536.
Thanks
Sachin Aggarwal
Chartered Accountant.
2007-02-02 06:23:34 · answer #4 · answered by CASachinTaXpert 1 · 0⤊ 0⤋
u can show to the department as paid to ur father or mother but they will ne taxable for that income and u can claim exemption for the amount paid as rent
2007-01-31 06:19:18 · answer #5 · answered by anirudh s 1 · 0⤊ 0⤋