Tax Benefits – House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA) Posted: 25 May 2013 06:51 PM PDT In case the House Rent Allowance (H.R.A.) is provided then there will be a tax savings (Please refer Valuation sheet for details). The above mentioned savings is mainly because of the methods Income tax act and Rules employs for valuation of taxability of H.R.A and Rent Free Accommodations (R.F.A.). |
No Section 69A Addition for Cash Deposits Based on Suspicion Alone
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ITAT Nagpur rules against arbitrary 10% cash deposit addition under Section
69A, stating no income can be deemed if explanations are credible.
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