 Rank: Newbie
Joined: 4/28/2012(UTC)
Posts: 8
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Can someone please tell me that HRA component mentioned on the salary slip is the:
HRA provided by company
OR
It is the least one calculated by three HRA calculation conditions mentioned as:
-The actual amount of HRA received.
-40% of salary. This increases to 50% if you are renting out the house in Delhi, Mumbai, Chennai or Kolkata
-Rent paid minus 10% of basic salary
Thanks...
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 Rank: Administration
Joined: 1/9/2010(UTC) Posts: 449  Location: India Was thanked: 1 time(s) in 1 post(s)
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HRA mentioned on the salary slip in the EARNINGS section is the one HRA provided by company. The amount of HRA that you can claim as tax exemption (which is calculated as per the three rules that you have written) is different and may or may not be mentioned in your salary slip. If you want to know the following: 1. Amount of tax exemption that you can get with the HRA mentioned in your salary slip AND 2. How much rent can get you maximum tax exemption Then you can find it using this calculator: http://am22tech.com/s/22...Tax-Exemption-India.aspx
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Rank: Newbie
Joined: 4/28/2012(UTC)
Posts: 8
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Thank You very much Soan for clearing the point.
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