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Rent paid less than 10 of Basic salary

Others 638 views 7 replies
Annual rent paid is 40k which is less than 10% of the basic salary
can the full rent paid 40k be claimed under sec 10(13A)
Replies (7)

No.

 

 

 

 

 

Yes possible
The lowest of the following amounts can be claimed as HRA exemption:

1. Actual HRA received
2. 50% of [basic salary + DA] for those living in metro cities (Delhi, Kolkata, Mumbai or Chennai)
3. 40% of [basic salary + DA] for those living in non-metros
4. Actual rent paid (-) 10% of [basic salary + DA]
As per the above calculation actual rent - 10% of the Basic salary would be negative
Originally posted by : yashmitha
opening quote As per the above calculation actual rent - 10% of the Basic salary would be negative closing quote

That means no exemption.

Thanks, is there no option to claim rent paid if it is less than 10% of the Basic Salary

No. Try new tax regime for lower tax.


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