Hra

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RAMAKRISHNA (Querist)
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28 July 2016 ,My friend working as soft ware in Chennai he is getting 12500/- as hra allowance that means 50% of basic, he is paying 11000/- per month , it is staying metro sir, how much amount can he take exemption or claim in section 10(13a) sir,
kindly give me your valuable suggestion sir,

Sathish M

Sathish M (Expert)
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28 July 2016 The least of the following is exempt:
1. 50% of Salary* (Chennai is Metro city) 12500*12*50%= Rs.75,000
2. Excess of Rent paid over 10% of Salary= (11000*12)-(10% of 12,500*12)=Rs.117,000
3. Actual amount of HRA received=12500*12= Rs. 150,000

Thus the amount of HRA exempt is Rs.75,000
Taxable HRA is 150,000-75000 = Rs. 75,000

Note : Salary for this purpose includes Basic + DA

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