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Financial Literacy News: HRA claims mismatch: Taxpayers should remain cautious. If there's a discrepancy between the rent paid and the rent received by the landlord, potential
Financial Literacy News: Learn about the eligibility, benefits, tax implications, and how to calculate HRA exemption for House Rent Allowance. Get your queries answered in this comprehensive guide.
Several court verdicts — including the recent one in June 2023 by the Income Tax Appellate Tribunal (ITAT) in Aman Kumar Jain’s case — have decided that the rent paid by a man to his wife is allowed as HRA and tax exemption is permitted for the same
The current govt will be presenting its interim budget ahead of its forthcoming general elections. Taxpayers expect big measures with this budget
One reason for high tax is the low exemption for the HRA component in his salary. Up to 10% of the basic salary put in the NPS on behalf of the employee is deductible under Section 80CCD(2). There are some tax-free perks, such as reimbursement of newspaper expenses, meal coupons. Sudhir Kaushik of TaxSpanner.com tells readers how readers can optimise their tax by rejigging their income and investments