{"id":3164,"date":"2016-12-30T05:00:11","date_gmt":"2016-12-29T23:30:11","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=3164"},"modified":"2021-05-24T00:44:31","modified_gmt":"2021-05-23T19:14:31","slug":"8-questions-about-tax-exemption-on-hra","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/8-questions-about-tax-exemption-on-hra\/","title":{"rendered":"8 Questions about Tax Exemption on HRA"},"content":{"rendered":"
\"Tax
Tax Benefit on HRA – House Rent Allowance<\/strong><\/figcaption><\/figure>\n

Its time when you would be asked to submit proof of investment to your employer to save taxes. HRA (House Rent Allowance) has been one thing which confuses many people. so here answers to\u00a08 frequently asked questions about HRA:<\/p>\n

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  1. When can you claim HRA?<\/li>\n
  2. How to calculate tax exemption for HRA?<\/li>\n
  3. What are proofs to be submitted for claiming HRA?<\/li>\n
  4. Can HRA be claimed if you stay with parents in their house?<\/li>\n
  5. Can HRA be claimed if you pay rent to spouse?<\/li>\n
  6. Can HRA exemption as well as a home loan tax benefit be claimed at the same time?<\/li>\n
  7. What if you have taken home loan and have bought a home in the same city but are not residing in it for genuine reasons?<\/li>\n
  8. Period in which HRA exemption can be claimed<\/li>\n<\/ol>\n

    Read on\u2026<\/p>\n

    When can you claim HRA?<\/h2>\n

    Any salaried employee can claim HRA if they satisfy the following condition:<\/p>\n

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    1. HRA allowance is part of the Salary package<\/li>\n
    2. The employee is staying in a rented accommodation and paying rent for it<\/li>\n
    3. The rent paid exceeds 10% of the salary<\/li>\n<\/ol>\n

      Also Read:\u00a0<\/strong>How to Claim HRA Tax Exemptions while filing Income Tax Return?<\/a><\/p><\/blockquote>\n

      How to calculate tax exemption for HRA?<\/h2>\n

      The maximum HRA that can be claimed for tax exemption is minimum of<\/strong><\/p>\n

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      1. Actual HRA Received or<\/li>\n
      2. 40% (50% for metros) of Basic + Dearness Allowance or<\/li>\n
      3. Rent paid (-) 10% of (Basic + Dearness Allowance)<\/li>\n<\/ol>\n

        [button link=”https:\/\/apnaplan.files.wordpress.com\/2018\/02\/hra-tax-exemption-calculator.xlsx” size=”large” style=”download” color=”darkcyan” text=”light”] Download HRA Tax Exemption Calculator (44.06 KB)[\/button]<\/p>\n

        The HRA calculation has been explained by an example:<\/strong><\/p>\n

        Assumptions<\/p>\n