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HRA Exemption

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30 January 2010 I have querry about HRA Exemption.

If Employer Paid HRA Rs.14000/- per month to Employee. Employee paid House Rent and submit the house rent receipt for Rs.12,500/- per month for exemption of TDS on Salary. after calcuating as per HRA Calculater amount of Exemption is Rs.6000/- per month. Hence yearly is 72000/- p.a.

But as per Income Tax rules - Which ever is lesser formula - HRA Exemption leset to Rs.2,000/- p.m. In this case, can we get exemption of Rs.6000/- per month or Rs.2000/- per month.

kindly suggest.


Read more: https://www.simpletaxindia.org/2008/03/hra-exemption-how-to-calculate.html#ixzz0e4iKVwLr
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
30 January 2010 HRA Exemption least of the below

1.Actual HRA
2.40 % of salary (50% incase of metro)
3.Rent paid less 10 % of salary

Salary means - Basic pay, Dear allowance if the term of employment provide,commission based on the fixed percentage of turnover

based on this you can calculate
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