How much hra can be claimed for salaried income.
This query is : Resolved
08 March 2015
Hi,
1.I am doing a job in Mumbai sub-urb.
2.My Salary slip shows as:
Basic-16000
HRA-8000
Special allowance-36743.
3.I want to know how much maximum HRA I can claim for tax exemption if I don't have an agreement or any bond for house rent paid.
Pls suggest
1.I am doing a job in Mumbai sub-urb.
2.My Salary slip shows as:
Basic-16000
HRA-8000
Special allowance-36743.
3.I want to know how much maximum HRA I can claim for tax exemption if I don't have an agreement or any bond for house rent paid.
Pls suggest
08 March 2015
If you do not have the proof of rent paid then you can not claim any deduction on account of HRA.
HRA received is exempt u/s 10(13A) to the extent of the minimum of the following 3 amounts:
# Actual House Rent allowance received by the employee in respect of the relevant period
# Excess of Rent paid for the accommodation occupied by him over 10% of the salary for the Relevant Period
# 50% of the salary where the residential house is situated in Mumbai, Calcutta, Delhi or Chennai and 40% of the Salary where the house is situated at any other place for the relevant period.
HRA received is exempt u/s 10(13A) to the extent of the minimum of the following 3 amounts:
# Actual House Rent allowance received by the employee in respect of the relevant period
# Excess of Rent paid for the accommodation occupied by him over 10% of the salary for the Relevant Period
# 50% of the salary where the residential house is situated in Mumbai, Calcutta, Delhi or Chennai and 40% of the Salary where the house is situated at any other place for the relevant period.
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