Hi,
Below is my monthly salary structure. Can anyone help me how much HRA can I claim for tax exemption.
I get salary after deducting Rs. 1032 as PF, Rs. 200 as professional tax and some amount as income tax which is close to 20k/month.
I have taken a flat with 3 of my friends at Rs. 18000/month i.e. 3600 per head.
Also please let me the documents that have to be submitted for it. My landlord don't provide rent slips.I just have rental agreement for flat.
Thanks & Regards,
Akash
HRA Exemption per month:
If you are staying in (Delhi, Mumbai, Chennai or Kolkatta)
Least of the Following
1. 50% of Basic - Rs.4300/-
2. Rent Paid minus 10% of Basic - Rs.2740/-
3 HRA Received - Rs.5590/-
Exemtion available is Rs.2,740/-
If you are staying in other city
Least of the Following
1. 40% of Basic - Rs.3,440/-
2. Rent Paid minus 10% of Basic - Rs.2,740/-
3 HRA Received - Rs.5,590/-
Exemtion available is Rs.2,740/-
Regarding documents, it is completly depends on your Company policy. Few Companies accept only valid Rent Agreement, and other will ask to submit Rent paid Receipt along with Lease Agreement.
Rahul Dang & Associates-Chartered Accountants
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