Salary

House Rent Allowance (HRA) Exemption – How to Calculate

HRA is a special allowance specifically granted to an employee by his employer towards payment of rent for residence of the employee. HRA gets special treatment in income tax laws, and is exempt from income tax to a certain extent.  This is an allowance paid to the employee to defray the housing rent expense. Since…

Income Tax on Gratuity payment

Let us discuss the Income Tax on Gratuity Payment in India, the rules, exemption and deduction thereof. Gratuity is a amount which is paid by an employer to his employee for his past services when the employment is terminated. When the employment comes to an end due to the retirement or superannuation of the workers,…