Of the nearly 5.8 crore assessees who filed returns for the last fiscal, 55.4 lakh had claimed housing rent allowance (HRA), which is roughly 9.5% of the base. Within this, around 43 lakh had annual HRA of under Rs 1 lakh. Hence, Centre expects up to 80% of tax assessees to move to the new flat-rate regime, given that not many use HRA benefits for investments.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ulrLw3
