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Hra calculation

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Querist : Anonymous

Querist : Anonymous (Querist)

28 November 2013 The Assessee is paying rent of Rs 8000/month ( Bangalore), kindly confirm me the HRA exemption limit,please find salary break up below:

Basic Salary Rs. 90,150
DA Rs. 13,200
HRA Rs.74,229
4.Medical allowance Rs.46.389
5.Transport allowance Rs.18,558
6.Leave travel Allowance Rs.46,389
7.Bonus Rs.34,995

Regards

Santosh

Ganeshbabu K

Ganeshbabu K (Expert)
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28 November 2013 HRA exemption u/s 10(13A)
.
.
1)HRA received-74,229
2)Rent paid in excess of 10% of salary--(96000-10335)=85665
3)40% of salary=40% of (103350)=41340
.
.
least of above is exempt under HRA
.
.
hence 41,340 is your HRA exemption eligible u/s 10(13A)

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Ganeshbabu K

Ganeshbabu K (Expert)
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28 November 2013 Kindly refer to this article to know how to caluculate exemption
.
.
https://www.charteredclub.com/house-rent-allowance/

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