Hra exmption limit

This query is : Resolved

hitendra (Querist)
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19 December 2014 Dear sir,
I am private school teacher. my salary is Rs.30000/-P.M.
Pleas tell me HRA exmption for income tax.
we take miuxum benifit from hra.

Amol S Joglekar

Amol S Joglekar (Expert)
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19 December 2014 A. Rent paid in excess of 10% of salary
B. 40% or 50% of salary (This depends upon the city where you stay
C. Actual HRA received

The least of the above is exempt. You need to calculate accordingly so as to avail the optimum benefit.

Rupesh Jain

Rupesh Jain (Expert)
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19 December 2014 40%(50% in delhi, Mumbai, Kolkata, Chennai) of basic salary
rent paid excess of 10% of basic salary
HRA received
whichever is less will allowed

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2014 agreed with above reply..................

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