HRA

 I agree to what Amit says. But it has to be actual rent paid.

AGREE WID AMIT...

Agree with Amit.

50 % of salary if u reside in Delhi, Mumbai, Kolkota or Chennai and 40 % in case u reside in any other city.

Originally posted by : Karunesh Agrawal
	Dear Sir I shall be highly obliged for your reply to my query about HRA. My total annual salary is 7 lakh. To claim HRA exemption, how much House Rent Receipt will be required? I have received 143000 HRA. Will  I require to submit House Rent Receipt of Rs. 18000 p.m. for full exemption of HRA? Best Regards

Dear Friends,

He is saying that his annual salary is Rs. 7,00,000 and HRA is Rs. 1,43,000 but i think for HRA calculation we need salary components as HRA exemption is available on basic salary and not on gross salary.

Sudhanshu is very much right , For knowing the correct Solution we need the bifurcated figure of

Basic

D.A,

&

% based sales commission (if any)

out of Annual Salary of Rs. 700000/-

I agree to all above except for the way they have agreed to HRA calculation

The actula criteria is as follows

HRA exemption allowed will be least of following:

1. Actual HRA received

2. Rent paid in 10% of salary (But salary includes Basic + DA )only

3. 40 % of Salary or 50% of Salary (Salary inculed Basic +DA)

3. 40 % of Salary or 50% of Salary (Salary inculed Basic +DA)

So i think the actual calculation as per law will be quiet different then what the above all have suggested.

Kindly go through the same for your

I agree with Ankur.

 Please provide the bifurcation and the area where you reiside. this will be helpful for calculation purpose(i.e) 40% or 50%)

ankur is right.................

Hello, I have one query about HRA, Actually My company located in Mumbai, and I am living in Thane district My HR only consider 40% of Basic Salary instead of 50%, He told me because you  living in thane that why only I'll get 40% HRA not 50% its true. .........

for claiming HRA deduction,rent agreement is required to submit. And the rent amount mentioned in agreement is Valid proof along with rent receipt.if rent receipt reflects greater amount than the amount mentioned in agreement it will not be considered.

Originally posted by : Santosh K Sharma
	Hello, I have one query about HRA, Actually My company located in Mumbai, and I am living in Thane district My HR only consider 40% of Basic Salary instead of 50%, He told me because you  living in thane that why only I'll get 40% HRA not 50% its true. .........

Yes Mr. Santosh , he is correct. U get 50 % only if u live in Mumbai, Kolkota, Delhi or Chennai