i am receiving a HRA of 8000 and i am paying rent of 12000.
how much can i claim exemption?
Menu
Rent deduction
Replies (3)
| Originally posted by : Shane D Rozario | ||
 |
i am receiving a HRA of 8000 and i am paying rent of 12000.how much can i claim exemption? |  |
The exemption of HRA will be available up to the the minimum of the following three options:
1. Actual House Rent Allowance (HRA) received from your employer
2. Actual house rent paid by you minus 10% of your basic salary
3. 50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro
salary???
formula is lower of following
1) actual HRA receive
2) rent paid less 10% of basic salary + D A
3) 40% or 50% of basic salary + D A
50% in case of residence in delhi kolkata chennai mumbai
40% in rest city..
formula is lower of following
1) actual HRA receive
2) rent paid less 10% of basic salary + D A
3) 40% or 50% of basic salary + D A
50% in case of residence in delhi kolkata chennai mumbai
40% in rest city..
if rent is paid by employee, but not mention in form 16 for deduction by employer.... then can employee claim deduction for rent paid... or he have to file according to form 16 without RENT paid deduction?
Recent Topics :
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
Related Topics :
CAclubindia
