At the core of the reform is a uniform definition of “wages”, limited to basic pay, dearness allowance and retaining ...

HRA forms part of an employee’s salary package and is intended to offset rental housing costs. Although HRA is treated as ...

There are certain conditions that should be met if a taxpayer wants to avail the benefits of HRA exemption. Let’s understand in depth who can avail the benefits of HRA exemption and how to calculate ...

Central government employees may incur significant financial losses due to potential delays in the 8th Pay Commission's ...

HRA tax exemption rules offer benefits under specific conditions in the Income-tax Act, 1961. It provides tax-saving opportunities for employees living in rented accommodation under the old tax regime ...

The delay in the implementation of the 8th Pay Commission is increasingly becoming a matter of concern for central government ...

the next time you are drafting down a rent agreement for your property, remember, it can save your tax. Here are the nuts & bolts of HRA exemption and the role of rent agreement in the same NEW DELHI: ...

Are you living in a rented house? You can exempt your rent payment from the taxable income while paying your taxes at the end of every financial year. The rent you pay every year can be adjusted to ...

Notably, HRA cannot be more than 50% of your basic salary. Tax claims under HRA is available to those whose actual rent paid is less than 10% of their basic salary - 50% of basic salary is for those ...

Nirmala Sitharaman, the finance minister, made some adjustments to the personal tax structure in the union budget of 2023 to improve its appeal to salaried taxpayers who will be filing income tax ...