the formulae you have provided is not giving me the correct monthly rent amount, my annual basic is 725000, hence the optimum becomes 362500 (50% of basic)... am confused, can you please help?
I am staying in government quarter therefore I am not getting HRA but the problem is that my office is not repairing my quarter. There are many problems in my quarters. What for they are deducting my HRA and I am also paying licence fee. Is there any legal way to enforce "repair my quarter else don't deduct my HRA" Please advise
Re: Government quarter
by ganesh pai on Jun 22, 2011 04:06 PM
Complain to the estate department of your company for carrying our the repairs. The best thing to do is to surrender the quarters and rent a private property/flat. this way you can avail of tax rebate
You rent a house. Show the rent as paid to IT guys. Put somebody else on sub-let in the house and get some rent from them. You confine youself to a single room, or still best stay in streets. You can save rent and also taxes this way.
Re: Something wrong?
by Ashok Kumar on Jun 21, 2011 05:31 PM
He means only increase it on paper not in real. Still there is no verification if the declared rent is indeed paid to the landlord or not. Few even include the maintenance charges and show it as rent.
I am paying rent as 7500 per month and therefore I get tax exemption for (12*7500 - 10% Basic) = 75000 only. If I increase the rent to 9000, I will be fine. But, I have to create fake rental bills. Correct? Is there any other way, avoiding fake rental bills?
Re: Doubt
by Vasant Sivashanmugam on Jun 21, 2011 11:50 AM
You could include maintainence charges, electricity / water charges etc. to increase your total rent paid.
Re: Re: Doubt
by Ashok Kumar on Jun 21, 2011 05:33 PM
Still that is going to be a fake only. Your landlord is not going to give a receipt for something that he has not got.
