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Computation of House Rent Allowance (HRA) - Section 10(13A) AND RULE 2A

Income Tax - Salary Income - 09 - HOUSE RENT ALLOWANCE (HRA) [Sec. 10(13A) AND RULE 2A] § HRA is given to meet the cost of a rented house taken by the employee for his stay. The Income Tax Act allows for deduction in respect of the HRA paid to employees. § An employee can claim exemption on his HRA under the Income Tax Act if he stays in a rented house and is in receipt of HRA from his employer. In order to claim the deduction, an employee must actually pay rent for the house which he .....

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etro or 40% of your basic salary if you live in a non-metro. This minimum of above is allowed as income tax exemption on house rent allowance. Meaning of Salary for calculation the exemption of HRA Salary means (Basic + D.A + Commission based on fixed percentage on turnover). Salary is to be taken on due basis in respect of the period during which the period accommodation is occupied by the employee in the previous year. Other Important Point Exemption under section 10(13A) is not available if a .....

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