respected sirs,
I have question on calculation of HRA..
question:
basic pay 40000
HRA. 30000(rent receipt submitted of 18000 and he lives in Delhi)
variable pay 30000
how to determind and calculate HRA
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HRA calculation
Replies (1)
HRA will be least of the following.
- Amount received as HRA from employer = Rs. 30,000 X 12(months) = Rs. 3,60,000
- Actual rent paid less 10% of basic = (Rs. 18,000 X 12) – Rs. 48,000 = Rs. 1,68,000
- 50% of basic salary since he lives in a metro = Rs. 2,40,000
Hence, HRA Exemption will be 1,68,000
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