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Yes, HRA = 60% of basic is perfectly valid.
In-fact, company can give any amount of HRA.
The only thing to keep in mind is that the tax exemption will be calculated using the three rules that you already know. Now these rules always consider BASIC salary amount and the rent you actually pay.
Whatever amount is reached after applying the three rules is what is tax exempted. All the remaining amount is taxable.
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Please consider the following salary break-up:
Basic 50% on Gross
If your place on Metros HRA 60% on Basic
conveyance 800
Medical Allowance 1250
Remaining as Spl Allowance
I am confused with HRA part. in metros HRA is 50% but here it is giving 60% is it valid?
Thanks...
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