HRA exemption/rebate
This query is : Resolved
18 July 2023
I am a PSU employee. .and I live in company Guest House, getting HRA in salary and I am paying each month HRA amount to Guest House through my credit card every month. Can I avail IT exemption on my total HRA amount paid to Guest House?
18 July 2023
Yes, subject to ....
The least of the following three will be taken from tax:
HRA received from your employer
Actual rent paid minus 10% of salary
50% of basic salary for those living in metro cities or 40% of basic salary for those living in non-metro cities.
The least of the following three will be taken from tax:
HRA received from your employer
Actual rent paid minus 10% of salary
50% of basic salary for those living in metro cities or 40% of basic salary for those living in non-metro cities.
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