Dear all
I heard with the implementation of DTC or its recommendations in Budget 2012, HRA benefit for IT exemptions will be removed.
If it is true, it will impact salaried employees a lot. This will impact even the Zero Tax Slab is increased to 3 Lakh.
If this is true, it will be a huge blow to the people staying in rented houses. They cant even get the benefit of Housing Loan. How far the Govt proposed actions are justified, while allowing tax benefit to Housing Loans and removal of HRA for IT?
Can you share your idea, How far Removal of HRA benefit will impact the Income Tax.
Regards
KK Babu