Dear Professionals, Can HRA be more than the basic salary? Is it possible for us to deduct HRA more than 50% if the employee’s salary is not under the tax slab? Thank you for your help.
From India, Ahmedabad
1From India, Ahmedabad
It is not practically possible. Usually HRA is a % of Basic and even in ITAX it has relationship with Basic.
In general HRA is 50 to 60% of basic at higher level of salary and at lower level it is minimum 5% ( As per statue in some States of India - WB HRA Act -5%, Same as Maharashtra and some other states ).
S K Bandyopadhyay ( WB, Howrah )
CEO USD HR Solutions
+91 98310 81531
From India, New Delhi
In general HRA is 50 to 60% of basic at higher level of salary and at lower level it is minimum 5% ( As per statue in some States of India - WB HRA Act -5%, Same as Maharashtra and some other states ).
S K Bandyopadhyay ( WB, Howrah )
CEO USD HR Solutions
+91 98310 81531
From India, New Delhi
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