How anyone calculate HRA exemption from taxable salary for
Exam. HRA is 12000 and rent paid is 11500 and total salary
is 50000 thousand???????? plz. clear with example!!
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Answer Posted / ajoy kumar rai
LEAST OF THE FOLLOWING IS EXEMTED FROM TAX:-
1)ALLOWANCE ACTUALLY RECEIVED
2)RENT PAID LESS 10% OF SALARY
3)50% OF SALARY- IF HOUSE TAKEN ON RENT IS SITUATED IN
DELHI, KOLKATA, MUMBAI AND CHENNAI.
4) 40% OF SALARY - IF HOUSE IS TAKEN ON RENT IN OTHER
CITIES.
| Is This Answer Correct ? | 4 Yes | 2 No |
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