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Income tax query
what is mean by HRA house rent allowances give some examples ,why the are giving this allowances.
Replies (1)
HRA is a salary component provided to help with rent costs. It is tax-exempt for salaried employees under the Old Tax Regime, calculated as the minimum of the actual HRA received, the rent paid in excess of 10% of your salary, or 40%/50% of your salary depending on your city.
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