One private company has house rent allowance/accommodation facility based on the family structure of its employees as below:
That company provides both accommodation facility and cash for two types of employee(Bachelor and Family) under following conditions
Bachelor : If employee is bachelor then s/he gets accommodation and s/he has to refund/pay back some of house rent cash(given to him/her) to the employer.
Family: If employee lives with his own family then s/he gets accommodation as before but s/he has to refund/pay back WHOLE amount of house rent cash to the employer.
Now what will be the tax treatment for both Bachelor and Family in the light of section of IT act 1961?? Personal Income Tax
That company provides both accommodation facility and cash for two types of employee(Bachelor and Family) under following conditions
Bachelor : If employee is bachelor then s/he gets accommodation and s/he has to refund/pay back some of house rent cash(given to him/her) to the employer.
Family: If employee lives with his own family then s/he gets accommodation as before but s/he has to refund/pay back WHOLE amount of house rent cash to the employer.
Now what will be the tax treatment for both Bachelor and Family in the light of section of IT act 1961?? Personal Income Tax
Your employer company has a very strange policy. I have not come across a policy like this in the past. In any case, if HRA is part of your salary and is paid to you officially through the payroll,... Read More
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