Podcast
Questions and Answers
What is the monthly House Rent Allowance (HRA) received by Mr. Abhijeet from April 1, 2023, to June 30, 2023?
What is the monthly House Rent Allowance (HRA) received by Mr. Abhijeet from April 1, 2023, to June 30, 2023?
- $5,000
- $2,000
- $4,000 (correct)
- $3,000
What was Mr. Abhijeet's monthly basic salary before July 1, 2023?
What was Mr. Abhijeet's monthly basic salary before July 1, 2023?
- $7,000
- $4,000
- $6,000
- $5,000 (correct)
What is the Dearness Allowance (D.A.) amount per month for Mr. Abhijeet?
What is the Dearness Allowance (D.A.) amount per month for Mr. Abhijeet?
- $1,500
- $2,500
- $1,000
- $2,000 (correct)
In which city was Mr. Abhijeet paying rent from April 1, 2023, to September 30, 2023?
In which city was Mr. Abhijeet paying rent from April 1, 2023, to September 30, 2023?
On what date did Mr. Abhijeet's basic salary increase?
On what date did Mr. Abhijeet's basic salary increase?
In which city did Mr. Abhijeet start renting a new flat from October 1, 2023?
In which city did Mr. Abhijeet start renting a new flat from October 1, 2023?
When did Mr. Abhijeet purchase his own flat?
When did Mr. Abhijeet purchase his own flat?
What percentage of salary is considered for HRA exemption in Pune?
What percentage of salary is considered for HRA exemption in Pune?
For the period from January 1, 2024, to March 31, 2024, what is the taxable house rent allowance?
For the period from January 1, 2024, to March 31, 2024, what is the taxable house rent allowance?
Under which section is House Rent Allowance exempted?
Under which section is House Rent Allowance exempted?
Flashcards
House Rent Allowance (HRA)
House Rent Allowance (HRA)
Allowance given by employer to employee for meeting expenditure of rented accommodation.
Section 10(13A)
Section 10(13A)
Section of the Income Tax Act which provides an exemption for HRA, reducing taxable income.
Assessment Year (A.Y.)
Assessment Year (A.Y.)
The financial year for which income is calculated and taxed running from April 1 to March 31.
Basic Salary
Basic Salary
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Dearness Allowance (D.A.)
Dearness Allowance (D.A.)
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Allowances u/s 10(14)
Allowances u/s 10(14)
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% of Salary for HRA Exemption
% of Salary for HRA Exemption
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Taxable HRA
Taxable HRA
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HRA Exemption Calculation
HRA Exemption Calculation
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Rent Paid Deduction
Rent Paid Deduction
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