Hra exemption for jointly owned flat

To calculate the HRA exemption, we'll consider the following factors:

Factors Affecting HRA Exemption

 1. *HRA received*: ₹20,000 per month

 2. *Location*: Not specified, so we'll assume it's not a metro city (for simplicity)

3. *Rent paid*: Not specified, so we'll assume you're not paying any rent (since you're living in a jointly owned house)

4. *Ownership*: Jointly owned with your wife (50% each) HRA Exemption Calculation Since you're living in a jointly owned house, you won't be paying any rent.

 Therefore, the HRA exemption will be calculated based on the minimum of the following: 1. *Actual HRA received*: ₹20,000 per month 2. **50% of basic salary