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Exemption under section 10(13a) of the income tax act

exemption under section 10(13a) of the income tax act

Actual rent should be paid by the employee for availing deduction under this section.
3.4 Effect of non-furnishing of PAN on rate of tax.5 When tax to be deducted.6 When no tax need to be deducted or tax may be deducted at lower rate.6A Exemption under section 197A(1F).7 Special provisions for certain entities.8 Tax.In this case he can avail deduction u/s 80GG.Amount specified by Government.e.He pays a monthly rent.However rent paid by a salaried employee to his/her spouse, for occupying a house owned by the spouse, is not eligible for exemption under Indian Income Tax Act.No exemption if the house rent paid does not exceed 10 of Basic Salary.Rent paid to Spouse cannot be claimed.House Rent Allowance (HRA) is an allowance given by many Indian employers, including government employers, to salaried employees in India to help them meet the cost of rent of House occupied by them on lease or rental basis.Share of profit from a firm Exempt 10(4 interest received by a non resident from prescribed securities Exempt 10(5 leave travel concession provide by an employer to his Indian citizen employee, please refer below link for more details and exemption limit: m m/leave-travel-allowance/ 10(6).21.17 Disallowance under section 40(a).18 Information to be furnished by payer in case of payment to non-resident Income from investment in Securitisation Trust 21A.1 Scope of section 194LBC 21A.2 What payment is covered by section 194LBC 21A.3 Who is the payer 21A.4 Who.Agricultural income Totally exempt, provided it falls within the definition of agricultural income given u/s 2(1A) 10(2 payments received from family income by a member of HUF, entire Amount Exempt from tax 10(2A).House Rent Allowance (HRA) is the salary allowance given by an organization to the employee to meet the expenses related to renting a house for residential purposes.XXX, xXX, taxable HRA, xXX, points to be remembered, the following points are to be noted: Salary means Basic Pay Dearness Allowance ( if it forms part of retirement benefits) and any commission based on a fixed percentage on turnover.16 IN accordance with THE provisions OF section 203 read with rule.How to show HRA deduction in Income Tax Return There is no dedicated field to put HRA deduction amount in the income tax return.Now, that you know HRA calculation and exemption rules, we hope that you can maximize your tax savings.Chennai for Rs 10,000 per month, then the HRA eligible for exemption is the least of the following: The actual HRA received Rs 20,000 50 of the salary (since he is staying in a metro city) Rs 15,000.Deduction of tax at source from Employees Provident Fund Scheme.1 Scope and application of section 192A.2 New mechanism of tax deduction under section 192A.3 Tax Deduction and Collection Account Number (tdcan).4 Deposit of tax to the credit of the Central Government.