Invited for clearification of HRA please . income tax )
1) Meening of "Actual rent paid less 10% of salary " i.e.If one one can receive 48000/- annual HRA and paid 36000/- or 60000/- .as a rent. What is the deduction can be claim .
2. Rules 50% in metro and 40% in non metro.. Whether 40% HRA can be claim in small cities as Ludhiana,Ambala, Amritsar, Jodhpur,Agra etc.
3. Whether one can claim income tax deduction of total rent paid less than 40% of the salery
1. If total salary is say, 3 lakhs PA. 10% of salary will be 30K.
So, "Actual rent paid less 10% of salary " will be 36k-30k = 6K in first instance, & 60k-30k = 30K in second case.
2. Yes, 40% of salary is max limit for these cities.
3. Yes, lower deduction than actual available, can be claimed.
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