2 Lakhs HRA on 10 Lakhs Package

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Hello,

I recently got a package of Rs. 10LPA from my company [Mumbai]

Someone has advised me that I can claim up to Rs. 2 lakhs as HRA exemption from my salary under the old regime.

Please help me understand if this is true, and how can this be done? I would appreciate if someone can explain all the scenarios please.
 

Thank you

Replies (5)
HRA exemption depends on calculation. So 2lacs need not be the fixed figure
2 lakhs hra exemption sec 10(13A) RULE 2A.

But is 2 lakhs exemption possible under any scenario that's what I am asking?
Can you please help me with an example, I would get clarity 

Thank you so much!

For calculation, need HRA amount per month, salary per month da per month, rent per month
It depends on the following

HRA as per payslip
50% of basic
Rent paid - 10% of basic

Least of the above is exempt

( DA may also have to be considered if it is form part of retirement benefits)

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