Hra exemption

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vijay (Querist)
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30 November 2013 Respected Sir,
I want to know how much HRA exemption can i claim for tax saving? Basic Salary(Including DA) Rs.311443/- annually, HRA Received Rs.17028/- annually, residing in Non-Metro city, Rent Paid Rs.48000/- annually. HRA Exemption is Rs.16856/- or Rs.16212/- if exemption is Rs.16212/- then how?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 November 2013 the answer should be Rs 16,856/-

HRA should be lowest of: 50%/40% of the salary or HRA received or rent paid - 10% of salary.

50%/40% of salary is 155772/124577.

HRA is Rs 17028.. Rent paid: 48000- 10% of salary (31144)= 16856,

So HRA exemption is 16856.

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