please calculate my HRA Excemption with explanation

Least of the following will bw exempt

1 Actual HRA received - 4735*4 = 18940

2 Rent paid - 10% of salary (20000-3788)= 16212

3 40% of salary (9470*4)*40%  = 15152

So 15152 is the least and u will get exemptio of this amount.

40%-non metro

50%-metro cities

Dear Asish

Thanks for your reply , but am in metro so i think its 50%

another thing actual hra received is not 4735*4 its 4735*12

ok if u r in metro than apply 50% and it does not matter that u receive HRA for whole year of u paid rrent for only 4 months b coz then rent paid for that period will be zero and no exemption of that amount and HRA received for 8 months will bw included in the salary

thanks ashis can u explain about medical re imbursement /allowance

whether its taxable ?

Medical allowance is taxable, re-imbursement is exempt upto Rs.15000/-.

Ya , jobin is right

thanks , anyone can explain conveyance allowance & transportation allowance and its excemption in Income tax

transportation allowance for coming to office from house is exempt subject to maximum of Rs.800 p.m and conveyance allowance for doing office work or duty is exempt to the extent actually spent on performing the duty

if house is metro then

actual HRA received-18940/-

50%of Basic Salary-(9470*4)*50%=18940/-

Rent paid in excess of 10%of salary-=16212/-

whichever is least

16212 /-.This much amount you can claim as HRA Exemption

If House is in non metro then

actual HRA received-18940/- 

40%of Basic Salary-(9470*4)*40%=15152/-

Rent paid in excess of 10%of salary-=16212/-

15152/- This much amount you can claim as HRA Exemption