![]() ![]() Actual house rent paid by you minus 10% of your basic salaryģ. Actual House Rent Allowance (HRA) received from your employerĢ. ![]() As long as the rented house is not owned by the assessee, the exemption of HRA will be available up to the the minimum of the following three options:ġ. In case one stays in an own house, nothing is deductible and the entire amount of HRA received is subject to tax. The rented premises must not be owned by him. In order to claim the deduction, an employee must actually pay rent for the house which he occupies. HRA is an allowance and is subject to income tax.Īn employee can claim exemption on his House Rent Allowance (HRA) under the Income Tax Act if he stays in a rented house and is in receipt of HRA from his employer. It is to be noted that the entire HRA is not deductible. ![]() The exemption on HRA is covered under Section 10(13A) of the Income Tax Act and Rule 2A of the Income Tax Rules. HRA is given to meet thse cost of a rented house taken by the employee for his stay.The Income Tax Act allows for deduction in respect of the HRA paid to employees. This is a part of the salary package, in accordance with the terms and conditions of employment. Calculate your House Rent Allowance (HRA) exemption know HRA exemption Calculation Formula and download HRA Calculator in excel format for easy calculation of exempt HRA Allowance out of Total HRA received by Salaried Assessee.Įmployees generally receive a house rent allowance (HRA) from their employers. ![]()
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