Dear Seniors, I Just wanted to know whether company can provide house allowance to those employees who are living in theris own house?
From India, Chandigarh
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From India, Chandigarh
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Hi Yes House Rent Allowance can be provided to individuals residing in their own house but in that case allowance is fully taxable under Income Tax. Thanks V K Gupta
From India, Panipat
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148From India, Panipat
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House Rent Allowance (HRA) Policy
House Rent Allowance will be a component of the salary. HRA varies from company to company as per their policy.
House Rent Allowance will be paid to everybody according to the company policy. HRA will also be paid to individuals who are residing in their own houses.
When the company provides quarters, the HRA will not be paid. Instead, the House Rent will be recovered from such employees' salaries every month as per the company policy.
From India, Hyderabad
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House Rent Allowance will be a component of the salary. HRA varies from company to company as per their policy.
House Rent Allowance will be paid to everybody according to the company policy. HRA will also be paid to individuals who are residing in their own houses.
When the company provides quarters, the HRA will not be paid. Instead, the House Rent will be recovered from such employees' salaries every month as per the company policy.
From India, Hyderabad
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W B Workmen's House Rent Allowance Act, 1974.pdf