How much hra i can claim in income tax

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B.Com
72 Points Posted on 27 January 2017

Hello Experts ,

I am Salariesed Employee 

I need to know what is exact figure for HRA I can claim in Income TAX

My basic  : Rr. 31875 Per Month
My HRA : Rs 12750 Per Month
Rent. Receipt given by me :  Rs. 10000 Per Moth

I am leaving in Ahmedabad..

I request to. Please calculate  how much Maximum HRA I can claim in income TAX

Thanks

 

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On 27 January 2017 at 17:58 Report
Replies (6)
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CA
273 Points Posted on 27 January 2017
HRA exempted upto 81750
rest amount rupees 71250 is taxable
2 Reply
On 27 January 2017 at 18:22
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Tax Consultant
748 Points Posted on 27 January 2017
Assuming that you are not receiving Dearness allowance and commission on a fixed percentage on sales,

Your exemption for HRA will be the least of the three.

1) Actual HRA ie Rs.153000.

2)Excess of rent paid over 10% of salary ie Rs.81750.

3)40% of salary ie Rs.153000.

Hence your exemption u/s 10(13A) will be Rs 81750.
1 Reply
On 27 January 2017 at 18:42
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Freelance consultant in Direct Tax and F
252 Points Posted on 27 January 2017
HRA deductible is lowest of:
Rent paid - 10% of basic salary = 81750
Actual HRA 261000
50% basic + da = 191250 out of total HRA received
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On 27 January 2017 at 18:54
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B.Com
72 Points Posted on 29 January 2017

Hello Suresh Sir , 

Thanks for your reply.

My basic  : Rr. 31875 Per Month

My HRA : Rs 12750 Per Month

Rent. Receipt given by me :  Rs. 10000 Per Moth

I do not get any DA or any comission

Actually my purpose is till how much of Amout of Rent Receipt I can show in my Accounts department Based on Above figure , So that i can take benifit in to My Tax Dedctuion.

 

Thank you again..

 

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On 29 January 2017 at 09:30
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CA
273 Points Posted on 29 January 2017
If you want that your HRA will exempted than you have to show rent receipt for full amount every month that is 12750
1 Reply
On 29 January 2017 at 12:38
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CA
273 Points Posted on 29 January 2017
On assuming that you have only one source of income i.e. salary. And Assuming that you are contributing in EPF/PF/CPF @ 12%.

On the basis of above salary you need to deposit around 40000 in PPF .
Than you are exempted to pay tax. And if any TDS deducted it will be your refund.
1 Reply
On 29 January 2017 at 12:45

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