HRA exemption/rebate
This query is : Resolved
Manoj Tamta
(Querist)
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?
Dhirajlal Rambhia
(Expert)
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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