reg tax exemption

Hello sir I’m a bank employee I’ve been paid an amount of 16181.82 as HRA for the whole year and i pay an amount of 66000 as house rent per year my doubt is that if i take a letter from my landlord am I eligible for tax exemption for the remaining amount or not please clarify ?

NAGACHANDU Asked on January 20, 2018 in Taxations.
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1 Answer(s)

HRA is allowable to the extent of Least of the f0llowing :- Actual HRA received , Rent Paid Minus 10% of Salary or 40% or 50% of Salary. Do check the HRA Calculator on the income Tax website

http://www.incometaxindia.gov.in/Pages/tools/house-rent-allowance-calculator.aspx

TaxIQ Answered on January 20, 2018.
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