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The HRA tax benefits are only applicable for those employees who stay in a rental accommodation. If there is change I place of employment is the same for the whole year, then HRA exemption shall be computed for the whole year. However, they can claim benefits on the house rent expenses incurred under section 80GG, which resembles section to 10 13A but is subject to certain conditions. In the bottom section, you need to provide selection about applicable tax slab.

Do share your views in the comment section. House Rent Allowance is an important ingredient of salary. The said COD will be effective from JAN-2017.



If you go through the break-up of your CTC statement, you will find a term HRA, which stands for House Rent Allowance. It is paid to compensate the employee for the rent he is paying in the absence of a company quarter. Then how to calculate the tax-free portion of House Rent Allowance HRA in your salary? House Rent Allowance HRA meaning House Rent Allowance means, if you are a salaried person and staying in a rented accommodation, then you can claim tax exemption for the rent paid. The rent can be partially or fully tax exempt. Who can claim HRA exemption? Self-employed and salaried people can claim HRA exemption, though under a different as explained in the article. HRA Exemption Section House Rent Allowance HRA is exempted under section 10 13A of the Income Tax Act. The salary for this calculation means the basic salary which includes dearness allowance if the terms of employment provide for it and commission based on a fixed percentage of turnover achieved by the employee. Please note that if the employee is staying in his own house or not paying any rent, he will not be eligible for the above tax exemption. House Rent Allowance HRA — Factors Deciding Exemption From the above rules, it is clear that there are 4 factors which decide your eligibility for House Rent Allowance HRA exemption. The Excel can be used as HRA exemption calculator for AY 2018-19. Suresh is getting a Basic Pay of Rs. He is staying in rented premises in Chennai and is paying a monthly rent of Rs. How is HRA calculated? So, he needs to pay tax for the balance of Rs. If the landlord is not having a PAN,then the landlord must submit a declaration to this effect along with his name and address. The answer to this question is both — Yes and No. Can you claim both HRA and Home Loan for Tax Exemption? If you are paying the loan for your own house and staying in a rented accommodation, you can claim the tax benefits for both, HRA as well as the Loan property. Can HRA be claimed by both the husband and wife? No, HRA is not compulsory because it depends upon your employer to make house rent allowance as a part of your salary. Can husband pay rent to wife and claim HRA? Yes, the husband can pay rent to wife and claim HRA in case the wife owns the house. But if the wife is not having any income and the house has been bought by you for her, the income will be clubbed in your income and taxed accordingly. Yes, you can claim HRA if you are paying rent to your mother, brother or parents but they need to show the income as Income under House Property. Is rent agreement mandatory for HRA exemption? Rent agreement is not mandatory for HRA exemption but it is better to have one as your CA can demand it for lower TDS. Is rent receipt mandatory for HRA exemption? If you are paying rent up to Rs. What is 80GG claim deduction for HRA? I would be happy to include them in the article. Also please feel free to ask any question on house rent allowance exemptions. I am working in MDL. We are going to sign Chartered of Demand COD with MDL in coming days. The said COD will be effective from JAN-2017. Employees will get benefit from JAN 2017 till the date of signing Memorandum of Settlement MOS including Wage revision and various allowances. JAN-17 — Are we liable to get Arrears of HRA w. Hi sir, pls clarify my doubt , one of my central government official is not claimed her HRA from 2014 now she is claiming, can we pay her HRA from that date or not , if not from which date I can pay to her, is any rules is there to pay HRA from back date, if yes , wat is the duration pls let me know, thank u Hello, I need your advise on this peculiar case — I pay Rs. He also says the rent receipt will be given for Rs. I am working in private organization in Mumbai. I am having my salary in the scale of 15600-39100 AGP-8000. According to scale my HRA is Rs. In month of Feb 2018, I was rented a accommodation outside the employer premises. And my employer is paid me me HRA of Rs. Now from March 2018, I am shifted to accommodation provided by employer. The employer dicided the rent Rs. The employer is not giving me HRA from march 2018 and additionally employer is asking me to pay rent for accommodation provided. So effectively rent for accommodation I am paying is Rs. Is it according to rules that the employee is not entitled for HRA have to pay additional amount for rent for accommodation provided?

This would be applicable where the property cost is below Rs 50 Lakhs and the home loan is below Rs 35 lakhs. Leave a Reply Your email address will not be published. The said COD will be effective from JAN-2017. So, it is best option to use the Income Tax calculator to calculate the taxable Income within few seconds. Can I pay rent to my parents or spouse to avail HRA benefits. Therefore, the Tax rate should be calculated carefully. Basic Salary — Rs.