Hra related queries
This query is : Resolved
Misha Vishal Gupta
(Querist)
28 June 2018
sir my employer gives me house rent allowance of rs 18000 per year but i paid 75000 rent per year is there any way to save all my 75000 from my taxable amount.
KAVIRAJA ADDANGADI
(Expert)
28 June 2018
You can not claim entire 75000/- HRA,
HRA can be claimed as per sec 10(13A) least of three,
1.Actual HRA received
2.40% of salary (50% of the salary if the rented property is in Metro City i.e. Mumbai, Delhi, Chennai or Kolkata)
3.Actual rent paid less 10% of salary
Salary includes basic salary, dearness allowance (if it enters into retirement benefits) and fixed percentage commission on turnover achieved by the employee.
HRA can be claimed as per sec 10(13A) least of three,
1.Actual HRA received
2.40% of salary (50% of the salary if the rented property is in Metro City i.e. Mumbai, Delhi, Chennai or Kolkata)
3.Actual rent paid less 10% of salary
Salary includes basic salary, dearness allowance (if it enters into retirement benefits) and fixed percentage commission on turnover achieved by the employee.
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