Hra exemption
If an employee started to live in a rented house from last four month of Financial Year and started to paying rent from that time. Kindly clarify at the time of calculating HRA exemption; the employee can take annual basic salary received and annual HRA received instead of basic salary and HRA received from that month from which the employee started to paying rent.
Ex- In the Financial Year-2015-2016,an employee started to paying rent from Dec'15 and rent amount is Rs, 13,750/-p.m, employee received monthly basic salary Rs, 57,500/- and HRA Rs, 28,750/-. What is the actual amount of HRA exemption in the Financial Year-2015-2016?
Replies (1)
Total deduction allowed is Rs. 32,000 for the year.
You can use this calculator to calculate - HRA calculator
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