How to Calculate HRA (House Rent Allowance) Exemption u/s. 10(13A) as per Income Tax Act.

Most of salaried employee/Taxpayee confused regarding calculation of HRA (House Rent Allowance) Exemption u/s. 10(13A) as per Income Tax Act. For this HRA Exemption Calculations we made simple utility to calculate HRA Exemption for the Assessment Year 2012-13. It is helpful to calculate Exemption of HRA in the Financial Year 2011-12.

How to Calculate HRA Exemption?
  1. House rent allowance received
  2. House rent paid
  3. Salary
  4. Location of the house. (As per section 10(13A) read with rule 2A, least of following three will be exempted).
Note:
  • House Rent allowance (HRA) received.
  • 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) and 40 % of salary in in any other case.
  • Rent paid in excess of 10 % of salary.
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HRA EXEMPTION CALCULATOR UTILITY
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