Hra deduction in income tax
This query is : Resolved
Shakil Ahmed
(Querist)
25 June 2013
I have submitted all the details of my salary savings and HRA receipt paid @4500/month,while i got HRA Rs.25404 during the year 2012-13.I claimed HRA exemption of Rs.25404.But my emploer did not consider my HRA exemption.What are the rules about this to get such exemption? what documents should I submit?Can I get income tax refund claiming HRA exemption?Last year my department considered the exemption.please tell me what I can do?
CMA Ramesh Krishnan
(Expert)
25 June 2013
HRA exemption has the calculation as per sec.10(13A) that is least of the following is allowed as exemption
1. Actual HRA received
2. 40% of Basic Salary (50% in case of metros)
3. Rent paid less 10% of basic salary
Accordingly you can calculate the same
1. Actual HRA received
2. 40% of Basic Salary (50% in case of metros)
3. Rent paid less 10% of basic salary
Accordingly you can calculate the same
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