Error in HRA EXEMPTION in ITR3

It is warning sign to check whether you are taking the exemption as per rule. Are you able to confirm the Schedule Salary?

Yes after watching some YouTube videos I got to know that adding it separately. Thanks..today I have submitted ITR 3 from my own with FNO, capital gain and salary income.

It appears that you are encountering an error while entering House Rent Allowance (HRA) details in ITR-3 (Income Tax Return Form for individuals and HUFs having income from profits and gains of business or profession). The error message indicates that the HRA exemption should not exceed the lower of either the HRA received or 50% of the basic salary plus dearness allowance (DA).

Here are a few things you can check and consider to resolve the issue:

1. Verify HRA details: Double-check the HRA details provided in your Form 16 (TDS certificate issued by your employer). Ensure that the information about HRA received, basic salary, and DA is correctly mentioned. Sometimes, errors in Form 16 can lead to discrepancies while filing the tax return.

2. Check ITR-3 fields: Make sure you are entering the HRA details in the appropriate fields in ITR-3. Input the HRA received and other relevant information as per your Form 16.

3. Reconcile the amounts: Calculate the HRA exemption amount based on the lower of the following two options: a. The actual HRA received during the financial year. b. 50% of your basic salary plus DA, if you live in a metro city (or 40% if you live in a non-metro city).

   For further more detailed information on this topic visit: New Income Tax Return (ITR) Forms for AY 2023-24

   To read more such trending content, visit Swipe Blogs.

Thanks for the details..all these info I am already aware of. And my problem has been resolved. Thanks 

Thanks for this suggestion, Very helpful! I was also facing the same error in HRA for last 3 days, but applied this resolution - added break up of salary, hra and other allowances and the error got resolved.