does HRA is fully exempted from income tax??????? If not, then what is the limit?????????
From India, Kota
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From India, Kota
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Dear Insomnia (are u suffering from sleeping pbm??, he, he) HRA tax exemption: HRA exemption - Actual rent paid minus 10% of your basic - will be eligible for tax exemption. Pon
From India, Lucknow
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616From India, Lucknow
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HRA Exemption Details
HRA is exempted in the following way:
1. In metro cities - 50% of Basic (Mumbai, Kolkata, Chennai, and Delhi)
In non-metro cities - 40% of Basic
2. Actual HRA received from the company as a part of salary/remuneration.
3. Actual Rent paid minus 10% of the Basic salary.
(Basic salary for this purpose is Basic + DA forming part + commission on sale on a fixed percentage)
Whichever is lesser from the above three (1, 2, or 3) is exempted from income tax.
From India, Mumbai
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HRA is exempted in the following way:
1. In metro cities - 50% of Basic (Mumbai, Kolkata, Chennai, and Delhi)
In non-metro cities - 40% of Basic
2. Actual HRA received from the company as a part of salary/remuneration.
3. Actual Rent paid minus 10% of the Basic salary.
(Basic salary for this purpose is Basic + DA forming part + commission on sale on a fixed percentage)
Whichever is lesser from the above three (1, 2, or 3) is exempted from income tax.
From India, Mumbai
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Income Tax -Transport Allw.exemption increased..docx
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