HRA Calculation Benefit

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  1. TVS

    TVS New Member

    My Father is the Owner of the Property and SO my father will be issuing the Rent Receipts to me for occupying a portion of the Flat in Mumbai.
    What will be the benefit in my HRA Calculations and is this valid claim for exemption in my IT Calculations?
    I also have a standard Rent Agreement (not stamp Paper but on Ordinary Paper) duly witnessed by 2 neighbours. Is this Ok?
    Also I understand that the Form12BB does not require me to "upload" evidences but just hand over copies to my Employer whose job it is to keep the records for the purpose of his TDS Calculation. So the Form 16 Part A will indicate form 12BB too? Or is the 12BB part of my ITR-1?
  2. ZED

    ZED Well-Known Member

    Lower of following is exempt u/s 10(13A) [HRA]
    [Salary= Basic + DA]

    Yes, its valid for claiming exemption.

    Its Ok.

    Do not mix up form 12BB, its merely for giving intimation to the employer. Although form 12BB will form basis of form 16 Part A and B
    You need to do computation as you have been doing earlier
    TVS likes this.
  3. TVS

    TVS New Member

    Thanks Zed very helpful of you.
    ZED likes this.
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