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HRA exemption

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anjali lamba

5 Points Posted on 29 December 2020

HRA received for F.Y. 2019-20 in F.Y. 2020-21 is Rs. 3,09,000/-

Rent paid in F.Y. 2019-20 is Rs.1,92,000/-.

10 percent of basic +DA is Rs.2,45,230/-

Can we claim HRA exemption in F.Y. 2019-20 ITR ?

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Quick Summary

This discussion clarifies how to claim House Rent Allowance (HRA) exemption for the financial year 2019-20. It confirms that you can claim HRA exemption on your Income Tax Return (ITR) for that period, even if received in a subsequent year. The exemption is calculated based on the minimum of rent paid, HRA received, and 10% of basic salary plus dearness allowance, with specific limits for non-metro cities.