Exemption for house rent paid
This query is : Resolved
18 June 2013
Please guide for house rent exemption & what are the limit and conditions
thanks
thanks
CMA Ramesh Krishnan
(Expert)
18 June 2013
In case you are receving HRA from your employer you can calculate the HRA exemption u/s.10(13A)
Limit is least of the below
Actual HRA received
50 percent of basic salary (for metro 10% for non metro cities)
Excess of rent paid over 10 percent of salary.
If you are not receiving any HRA from your employer or self employed you can claim Deduction u/s.80GG for rent paid by you
80GG limits
Least of the below
Rs.2500 per month
25% of total income
Actual rent paid less 10% of total income
Limit is least of the below
Actual HRA received
50 percent of basic salary (for metro 10% for non metro cities)
Excess of rent paid over 10 percent of salary.
If you are not receiving any HRA from your employer or self employed you can claim Deduction u/s.80GG for rent paid by you
80GG limits
Least of the below
Rs.2500 per month
25% of total income
Actual rent paid less 10% of total income
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