Question

My form 16 is missing HRA exemption?

I have two form 16's as I worked for two companies in the last year and one form 16 is missing HRA exemption .While filing tax return , do I just need to recalculate taxable income and put in the form or also need submit some proof while filing tax return.Thanks in advance.

Answers

You need not submit any proof at the time of filing the return. But fill the form correctly. If the form 16 is missing, then you can obtain a duplicate from your employer .

Club both the incomes (salary) in the return form and submit it. If you have to pay any tax, pay it or any refund to be received claim it .

#1

You can claim HRA if you fulfill these three conditions:

- You have an HRA allowance as part of your salary package.

- You are staying in a rented accommodation and paying rent for it.

- The rent exceeds 10% of your salary.

The actual HRA deduction, u/s 10(13A), you will be entitled to will be the least of the following:

?The actual amount of HRA received.

?40% of salary. This increases to 50% if you are renting out the house in Delhi, Mumbai, Chennai or Kolkata.

?Rent paid minus 10% of salary (basic component + dearness allowance)

Calculate taxable income. Do not attach any documents to your ITR.

HMT

#2