PROFESSIONAL
761 Points
Joined December 2009
If you have received HRA from two employers, then it should be calculated on the basis of Period during which the rental accommodation is occupied by employee during the previous year
Calculation for HRA shall be done separately for 2 months and for 10 months, subject to section 10(13A)
HRA is exempt under section 10(13A)
the least of the following is exempt from tax
1. an amount of 50% (in case of house is situated at Bombay, Calcutta, Delhi and Madras) or 40% (in case of house is situated at other than Bombay, Calcutta, Delhi and Madras) of salary
2. HRA received by employee in respect of the period during which the rental accommodation is occupied.
3. the excess of rent paid over 10% of salary