How much hra i can claim in income tax

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prakash

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

Replies (6)

Prashant Sharma

273 Points Posted on 27 January 2017

HRA exempted upto 81750
rest amount rupees 71250 is taxable

Suresh Pai S

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.

CA Revanth Bharathwaj M

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

prakash

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..

Prashant Sharma

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

Prashant Sharma

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.