Tag Archives: House Rent Allowance

Allowances can help you save Income-tax

myITreturn

Salaried taxpayer receives emoluments(benefits) from his/her employer generally referred as his package. The emoluments consists of various items such as Basic Salary, Dearness Allowance, Bonus, Commission on sales, Perquisites etc. All these items are covered separately in the Form 16 of the taxpayer. Out of these, allowances play a vital… Read more »

House Rent Allowance

myITreturn

Q. What is House Rent Allowance (HRA)? Ans.: If a taxpayer is a salaried person and living in a rented house, then certain sum of money is paid to him every month by his employer as Allowance against accommodation. The very purpose of paying this allowance is to meet the… Read more »