:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
 Question Submitted By :: Audit
I also faced this Question!!     Answer Posted By  
# 1
HRA Means "House Rent Allowances"

1. Actual HRA received from the organization
2. Rent Paid for the year minus 10% of Basic
3. 40% of Basic Salary

it should be calculated by the minimum value of above 3 points.
Is This Answer Correct ?    70 Yes 9 No
# 2
We can calculate House Rent Allowance by the following:
H.R.A.Received ....
1.actual HRA received...
2.50%(in metro cities) of salary ...
40%(in other cities) of salary ...
3.Rent paid over10%of salary ...
in above three which ever less is exempted .....
Is This Answer Correct ?    27 Yes 3 No
# 3
On Basic plus Dearness Allownce. 
Is This Answer Correct ?    22 Yes 7 No
# 4
HRA stands for House Rent Allowance, it is an allowance that almost every salaried employee receives as part of there salary package from there employer to meet the cost of rent that they pay for their home. In other words, HRA is a compulsory part of salary of an individual which every salaried person receives irrespective of the type of property he resides in. Which means, if your employer chooses to offer HRA then you will get this as part of your salary whether you stay in a rented house or reside in your own house.
As being a taxable part of salary, HRA gets special treatment in income tax law and is exempt from income tax to a certain extent. Now you must want to know ‘How much income tax exemption can you claim on your HRA?’

As per the income tax law, least of following three will be exempted.

Actual amount of HRA received from your employer as part of your salary

Actual house rent paid by you minus 10% of your basic salary (this includes basic + dearness allowance, if any)

50% of your basic salary (if you reside in a rented house in metro city) or 40% of your basic salary (if you reside in a rented house in non-metro city)
Is This Answer Correct ?    9 Yes 3 No
Bhupender Janmejai
# 5
HRA means House Rent Allowance. It is calcualted on Basic
Salary as per City classes. 10 to 40%
Is This Answer Correct ?    6 Yes 19 No
Dinesh Katoch

Other Audit Interview Questions
  Question Asked @ Answers
Expand---------PRSM   1
Is Taxi bills allowed to claim the LTA?   1
Does anyone work for the CA state as an Auditor? I am a new college graduate and I need some tips on what questions I will be asked during the interview for the Auditor 1 position. Can anyone help? CA 2
Expand---------RDES   1
What is the Procedure for Audit the Educational Institutions? and what are the documents we have to verify?   2
difference b/w debit and credit   10
What is your Strenth and waekness & why Deloitte 1
Tell us about your experience in conducting audits. IBM 1
Assume we have taken a vehicle on leasing Cost Of vehicle Rs.2445000 (vat 261964.00)on 22/12/09 ,the vecle lease for 4 years and made intial paymenent as Rs.25000 &the monthly leasing amount Rs.59806.00,pls let me know the double entries for this finacial year (with figers) Fidelity 1
Expand---------SRPM   1
what are the duties of an internal auditor   1
is there any preference in language can i give my interview in hindi Sbi 1
For more Audit Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright © 2013  All Rights Reserved.   ::