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The Employees’ Provident Fund Organization (EPFO) has fixed a rate of return of 8.5% for the financial year 2008-09. This has implications for a lot of people and hence the details have to be analyzed in order to understand the overall financial impact. There is not only an immediate impact in terms of earnings but [...]

House Rent Allowance (HRA) is an allowance given by an employer to an employee. The sole purpose of which is to meet the cost of renting a home. Here, we hope to clear the concepts of HRA and how the income tax exemption on HRA is calculated. You can claim HRA if you fulfil the [...]