Mr. Manish Parmar
receive Rs.15,000 p.m.
as House Rent
Allowance from his
company, he also pays
Rs. 5,800 p.m. for
rented house in
Vadodara and his salary
is Rs.25,000 per month.
What will be the
taxable amount of the
House Rent Allowance
for the AY 2020-21?
a)Rs. 1,80,000
b)Rs. 1,20,000
c)Rs. 1,40,400
d)Rs. 39,600
Answers
Answered by
0
a)Rs. 1,80,000
GIVEN: House rent allowance is Rs. 15,000 pm.
Rent paid Rs.5,800 pm.
TO FIND: Taxable amount
SOLUTION:
According to the question,
House Rent Allowance received = 15,000
Rent paid = 5,800
Now,
Actual HRA received ₹ 1,80,000
50% of Actual Salary (25,000*12/2) ₹ 1,50,000
Actual rent ₹ 5,800 minus 10% of (25,000*12/2) ₹ 54,600
Therefore,
Taxable Rent Amount = ₹ 1,80,000
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