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House Rent Allowance

Income Tax Season: 10 allowances that can optimise your income tax benefits considerably

Income Tax Season: 10 allowances that can optimise your income ta...

Mon, Jul 08, 2024

Know how to maximize tax savings through employee allowances in this article. Ensure that the mentioned allowances are integrated into your salary structure to reduce taxable income and optimise financial benefits. Consult with HR to include these allowances and effectively manage your tax liabilities while enjoying various perks tailored to your employment.

Income Tax Season: Can you save income tax by paying rent to your spouse? Know how to save up to Rs 1,80,000 tax through it

Income Tax Season: Can you save income tax by paying rent to your...

Wed, Jul 03, 2024

Income tax saving tips: Employed taxpayers who want to take tax benefits of House Rent Allowance can employ this tactic to save their income tax.

Income Tax Season: Not just 80C, this Income Tax section can give you instant tax exemption- know how to take its advantage while filing ITR

Income Tax Season: Not just 80C, this Income Tax section can give...

Wed, Jul 03, 2024

Tax exemption benefits: Section 80C of the Income Tax Act is quite a popular section among salaried persons when it comes to saving tax in a financial year. The section provides tax exemption of up to Rs 1.50 lakh in a financial year. But not just Section 80C, House Rent Allowance (HRA) also comes under the purview of tax exemption. This part is deducted from your total income before calculating gross taxable income.

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HRA Tax Calculator: How much tax relaxation you get on HRA on Rs 4 lakh basic salary

HRA Tax Calculator: How much tax relaxation you get on HRA on Rs...

Tue, Apr 02, 2024

Many of us get House Rent Allowance (HRA) as part of our monthly salary. HRA gives us tax deduction under Section 10(13A) of the Income Tax Act. Employees staying in Tier-1, Tier-2 and Tier-3 cities get different slabs of HRAs. Do you know how tax relaxation on HRA is calculated? How much HRA tax exemption can you get on a basic annual salary of Rs 4 lakh.

HRA Fraud Alert: I-T Department catches taxpayers misusing PAN cards to claim HRA

HRA Fraud Alert: I-T Department catches taxpayers misusing PAN ca...

Tue, Apr 02, 2024

Taxpayers get tax exemption on house rent receipts. But some taxpayers are misusing this option by misusing PAN cards. After various such cases came to the fore, the Income Tax Department has started cracking down on the violators misusing the HRA i.e. House Rent Allowance option by giving fake documents. The Income Tax Department has found out in its investigation that many people have misused the PAN cards of other persons.

Income Tax 2023-2024: Want to save income tax? This salary allowance can help you immensely; know how

Income Tax 2023-2024: Want to save income tax? This salary allowa...

Sun, Jan 07, 2024

Income Tax 2023-2024: People filing income tax returns seek every possible option that can help them save their hard-earned money. There are many tax saving tactics, including your salary allowances that can help you save your tax. In today's write-up, we will tell you one such tax saving option that can help you save tax considerably.

ITR Filing: Can I claim tax exemption if I am paying rent to my wife, parents, or relatives?

ITR Filing: Can I claim tax exemption if I am paying rent to my w...

Sat, Jul 29, 2023

To claim HRA by paying rent to relatives, a valid rental agreement, proper payment channels, and property ownership in the name of the rent receiver are crucial. With the income tax return deadline ending today (July 31, 2023), you should know whether incorporating such rent documents in your ITR can benefit you in tax saving.

ITR Filing: I didn't file rent receipts and didn't claim HRA through employer. Can I claim it at the time of filing income tax return?

ITR Filing: I didn't file rent receipts and didn't clai...

Sat, Jul 29, 2023

Employees who haven't provided their HRA paperwork to their employers can still update (or correct) their rent details while filing their ITR till the deadline today (July 31, 2023).

HRA exemption: Are you eligible if rent paid to your father?

HRA exemption: Are you eligible if rent paid to your father?

Wed, Jun 07, 2023

Proper documentation and adherence to regulations are crucial when claiming HRA exemption for rent payments made to parents.

Rented a house? Before signing on dotted line, know these 7 key things

Rented a house? Before signing on dotted line, know these 7 key t...

Wed, Jun 26, 2019

Renting a property is not so great option as it requires a bit of documentation, transparency, and understanding between landlords and tenants. In order to avoid unnecessary issues and trouble in future, there should be a discussion on every single thing among the involved parties.

Income Tax return filing: How to ensure that your HRA claim isn't rejected

Income Tax return filing: How to ensure that your HRA claim isn...

Mon, Mar 18, 2019

Income Tax return filing: The financial year is almost over and the tax season is now well and truly here. The few days left in March offer the last opportunity to save on your hard earned money, else you will lose a big chunk of your money to the taxman.

How to save Income Tax: HRA calculation made easy with this tool - Get answers of all your queries

How to save Income Tax: HRA calculation made easy with this tool...

Wed, Feb 20, 2019

Income Tax Calculator: The current Financial Year is about to end in a month. With this, most of the salaried individuals are also concerned about how to save income tax.

Income tax returns filing: This HRA hack will surprise you

Income tax returns filing: This HRA hack will surprise you

Tue, Mar 13, 2018

House rent allowance (HRA) is paid by employers to employees as part of salary break-up. HRA provides tax benefit for the rent employees pay for accommodations every year.

Income Tax Returns (ITR) filing: Check out this big HRA, home loan tax deduction benefit surprise

Income Tax Returns (ITR) filing: Check out this big HRA, home loa...

Thu, Mar 01, 2018

Income Tax Returns (ITR) filing: In case you have purchased a residential property on loan, but you live in another home which you pay rent for, you can claim available tax benefit for HRA as well as against the Home Loan. The condition however, is that both rented and owned property should be in different cities.

7th Pay Commission: Govt employees may see pay hike in FY19, arrears unlikely

7th Pay Commission: Govt employees may see pay hike in FY19, arre...

Thu, Feb 22, 2018

Union Finance Ministry has reportedly set a panel to take a final call on demands of these employees by April this year.

7th Pay Commission: Will employees hear a good news by April 2018?

7th Pay Commission: Will employees hear a good news by April 2018...

Mon, Feb 19, 2018

The Union Cabinet had earlier examined 197 allowance, recommending abolition of 53 allowance and subsuming 37 in others.

7th Pay Commission: Govt employees to get revised salary from tomorrow, but will there be no 8th Pay?

7th Pay Commission: Govt employees to get revised salary from tom...

Mon, Jul 31, 2017

While the central government employees are still dissatisfied with the revised allowances, this salary revision will be for the last time as the government is planning to not form any pay commission post this.

7th Pay Commission: Central government employees shows dissatisfaction on revised allowance

7th Pay Commission: Central government employees shows dissatisfa...

Mon, Jul 24, 2017

Standing Committee of National Council(JCM) with the Additional Secretary, Department of Expenditure, held a meeting today to discuss the issues arising after the implementation of 7th Pay Commission.

7th Pay Commission to help RBI meet its inflation goals?

7th Pay Commission to help RBI meet its inflation goals?

Thu, Jul 13, 2017

Apart from the central bank, HSBC report had said that 7th Pay Commission implementation has put inflation in an "uncertain zone".

7th Pay Commission: See how much HRA you will get based on your city

7th Pay Commission: See how much HRA you will get based on your c...

Thu, Jul 13, 2017

Union Cabinet meet which was chaired by Prime Minister Narendra Modi approved the recommendations of the 7th Pay Commission with 34 modifications.

7th Pay Commission: Your in-hand salary may not rise as expected, here's why

7th Pay Commission: Your in-hand salary may not rise as expected,...

Tue, Jul 11, 2017

Union Cabinet last month under Prime Minister Narendra Modi gave its final go-ahead to 7th Pay Commission recommendations with 34 modifications.

7th Pay Commission: We calculate why your HRA may not increase to 157% immediately

7th Pay Commission: We calculate why your HRA may not increase to...

Mon, Jul 10, 2017

After over a year of waiting, 50 lakh government employees finally have something to cheer as Prime Minister Narendra Modi led Union Cabinet last month accepted all 7th Pay Commission recommendatio

7th Pay Commission: Defence, Industrial employees send reminder of overtime allowance

7th Pay Commission: Defence, Industrial employees send reminder o...

Mon, Jul 10, 2017

Mukesh Singh, Secretary of Bharatiya Pratiraksha Mazdoor Sangh wrote a letter to Ministry of Defence on June 29, following the day when Modi-led committee approved 7th Pay Commission recommendations.

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