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HRA exemption

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6 Points Posted on 18 November 2020
if an assessee is a salaried employee and he pays aren't of Rs. 7500/- pm In Y category city. His basic pay is ₹1.00lakh per month. whether he can exemption u/s 10 (13A) of the Act.
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On 18 November 2020 at 14:54 Report
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Tax consultant
5895 Points Posted on 18 November 2020
Didn't get you in 2nd para
57 Reply
On 18 November 2020 at 16:15
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6 Points Posted on 18 November 2020
Person with one lakh per month salary staying in a rented house of Rs.7500/- pm in Mangalore
As per the 3 conditions laid idown n Rule 2 of the Act, the amount of rent per year is very less.
So, whether he can claim exemption u/s 10 (13A) of the Act.
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On 18 November 2020 at 17:34
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Tax consultant
5895 Points Posted on 18 November 2020

If you get a hra from employer and have living in a rented house you can claim Deduction

1st -actual hra received

2nd- 40%of basic salary

3rd- excess of rent paid over 10% of salary

Which ever is least is your exemption

57 Reply
On 18 November 2020 at 17:55
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5895 Points Posted on 18 November 2020
I don't know your hra or cannot calculate so you see what is the least amount among three and deduct
57 Reply
On 18 November 2020 at 17:58
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6 Points Posted on 18 November 2020
But my point is it is less than the least amount specified. In such a case is it allowabale exemption
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On 18 November 2020 at 18:23
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5895 Points Posted on 18 November 2020

Rent is less than the least amount you mean that

Rules are not changed it will be exempted the above way

57 Reply
On 18 November 2020 at 19:05


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