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)
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Rent paid less than 10 of Basic salary
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]
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 | ||
 |
As per the above calculation actual rent - 10% of the Basic salary would be negative |  |
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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