I work in a bank as a probationary officer with ₹26,640 as my basic salary. I reside in a house that is on lease, receiving ₹5,000 per month from my employer in lieu of house rent allowance (HRA). But I pay ₹6,800 per month as rent. Will I get any tax benefit and, if so, up to what amount? Sudhir As per the provisions of the Income-Tax Act, 1961, any allowance provided by an employer to an employe...
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