Hra Exemption Section 10
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In both the cases 84000 is exempt under section 10 13a.
Hra exemption section 10. Decoding hra tax exemption. The exemption under the house rent allowance under section 10 13a of the income tax act. The amount of hra exemption is deductible from the total income before arriving at a taxable income.
Mumbai delhi chennai or kolkata. Use our house rent allowance hra calculator to calculate your annual monthly exemption available for hra. Actual hra received.
House rent allowance granted by an employer to his employee is tax exempted to the extent provided under section 10 13a of income tax act 1961. Can i claim hra under section 10 13a for exemption or it will be treated as a fraud case. If you are staying in a rented house and getting house rent allowance as a part of your salary you can claim for full partial hra exemption as per the section 10 of it act.
A salary is not same throughout the year and rented accommodation is located in delhi mumbai kolkata or chennai. Hra exempt under section 10 13a least of the above 2 40 000. Subject to certain conditions a part of hra is exempted under section 10 13a of the income tax act 1961.
However hra exemption u s 10 13a is not available if you are living on your own house or do not incur any expenditure on rent. Conditions for claiming house rent allowance exemption u s 10 13a deduction under section 10 13a is allowed only if the employer is getting hra from their employer. All those salaried persons who are receiving house rent allowance and living in rented accommodation can claim full or partial hra exemption under section 10 13a of the income tax act 1961.
July 31 2015 at 11 16 am vipin says. As the amount as per above computation shall come to 100. Case 2 when salary hra and rent of the house are not same through out the year.
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