Dear Mr Batra... I have been using your XL file for computation of Tax on salary for the last 1 year. But, during the tax audit, there found a difference in valuation of HRA exemption. Monthly exemption of HRA differ from the exemption valuated on annual basis. How such difference occurs....? Need your help
1 Answers
HRA exemption should be computed on monthly basis.
As house rent/basic salary may change in middle year, exemption should also be on monthly basis.
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