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Hra exemption %age

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(Querist)
03 July 2015 Dear All,

Please clarify me the %of HRA exempt in income for FY 2014-2015.


Regards
Hemant Bisht
8802341905
R V Associates
Tax Consultants
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 July 2015 HRA received is exempt u/s 10(13A) to the extent of the minimum of the following 3 amounts:­

# Actual House Rent allowance received by the employee in respect of the relevant period
# Excess of Rent paid for the accommodation occupied by him over 10% of the salary for the Relevant Period
# 50% of the salary where the residential house is situated in Mumbai, Calcutta, Delhi or Chennai and 40% of the Salary where the house is situated at any other place for the relevant period.
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