HRA exemption

[Babba]

Anybody help me with the hra exemption in itr as some websites show that hra exemption is actual rent paid - 10% of basic salary, some says 10% of basic +DA

 

[CA Sunil Chahal]

• HRA received from your employer
• Actual rent paid minus 10% of salary
• 50% of basic salary for those living in metro cities
• 40% of basic salary for those living in non-metro cities

Lower of the above.

 

[Babba]

• HRA received from your employer
• Actual rent paid minus 10% of salary
• 50% of basic salary for those living in metro cities
• 40% of basic salary for those living in non-metro cities

Lower of the above.

Actual rent paid minus 10% of salary?? is it total salary or basic pay??

 

[CA Sunil Chahal]

Basic +DA

 

[manish09]

Basic +DA

Hi Sunil, I am not getting the HRA allowance from my employer. I am staying in my own flat for which the EMI for the home loan I am paying. Can I avail the HRA exemption in the ITR? Please guide.

 

[CA Sunil Chahal]

Hi Sunil, I am not getting the HRA allowance from my employer. I am staying in my own flat for which the EMI for the home loan I am paying. Can I avail the HRA exemption in the ITR? Please guide.

No you can't claim

 

[manish09]

No you can't claim

okay, thankyou

 

[Babba]

Basic +DA

What if there is no rent agreement and rent is paid in cash. What document can be used for rent proof??

 

[CA Sunil Chahal]

Rent agreement is must. Rent payment receipt . ITR of landlord where he has shown rent as income.
These are must document even after having these document it is not necessary that they will allow they can disallow because in case of cash payment there are more chances of disallowance