Calculation of HRA Exemption
This query is : Resolved
21 July 2022
The basic of Mr X is 1 lakh PM. He has paid rent of 120000 (20000 om for 6 month ) for rest of 6 month he worked from home .
While calculating HRA exemption one of criteria is
Rent Paid. 1.20 lakh
Less 1/10 basic 1.20 lakh
12 L /10 .
If 1/10 of whole salary is calculated he is not getting any exemption .
Can he consider 6 months basic ( 6 lakh ) as he has paid HRA of 6 months only . Is this logic is correct ? Then he is getting exemption of 60000 . ( 120000 less 60000 )
Please guide
While calculating HRA exemption one of criteria is
Rent Paid. 1.20 lakh
Less 1/10 basic 1.20 lakh
12 L /10 .
If 1/10 of whole salary is calculated he is not getting any exemption .
Can he consider 6 months basic ( 6 lakh ) as he has paid HRA of 6 months only . Is this logic is correct ? Then he is getting exemption of 60000 . ( 120000 less 60000 )
Please guide
21 July 2022
Yes, that is the correct procedure, provided utility accept it. Get form 16 from employer to that effect, in that case it will be considered.
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