HRA Calculator - Free Online HRA Exemption Calculator | Bizeneed

HRA (House Rent Allowance) exemption allows salaried individuals to claim a portion of their HRA as tax-exempt under Section 10(13A) of the Income Tax Act, provided they live in rented accommodation.

HRA exemption is the lowest of: (1) Actual HRA received, (2) 50% of basic salary for metro cities or 40% for non-metro cities, (3) Actual rent paid minus 10% of basic salary.

For HRA purposes, the four metro cities are Delhi, Mumbai, Kolkata, and Chennai. For these cities, 50% of basic salary is considered instead of 40%.

No, you need rent receipts or a rent agreement to claim HRA exemption. If your landlord does not provide a PAN and rent exceeds ₹1 lakh annually, you can claim exemption without PAN by providing a declaration.

If rent exceeds ₹1 lakh per year and the landlord doesn't have PAN, you can still claim HRA exemption by submitting a declaration from the landlord with their name and address. Otherwise, TDS at 10% is required.

No, HRA is only partially exempt. The taxable portion is: HRA received minus the exempt amount. The exempt amount is calculated as the lowest of the three methods mentioned above.

Yes, you can claim HRA exemption for rent paid to parents, provided you have valid rent receipts/agreement and can prove the payment (bank transfers are best). Your parents must declare this rent income in their tax returns.

Section 10(13A) of the Income Tax Act provides HRA exemption for salaried individuals living in rented accommodation. The exemption amount is the lowest of the three calculation methods.

No, you cannot claim both HRA and home loan interest deduction for the same property. If you own a house and live in it, you cannot claim HRA. You can claim home loan interest (up to ₹2 lakh) instead.

No, HRA exemption under Section 10(13A) is not available in the new tax regime (default regime from FY 2023-24). It is only available under the old (regular) tax regime.

There is no minimum rent specified for HRA exemption. However, to claim exemption, you must actually pay rent and have valid rent receipts or a rental agreement as proof.

Yes, you can claim HRA exemption for rent paid for multiple houses if you genuinely live in both places, such as a home office arrangement. However, you can only claim rent for one house as your primary residence.

HRA exemption = Minimum of: (1) Actual HRA received, (2) 50% of basic salary for metro cities or 40% for non-metro cities, (3) Excess of rent paid over 10% of basic salary.

Yes, you can claim HRA if you pay rent to your parents. The rent agreement should be on valid stamp paper, and you should have bank transfer records as proof. Your parents must declare this rent income in their returns.

LTA (Leave Travel Allowance) is a separate exemption under Section 10(5) for travel expenses during leave. It is different from HRA and can be claimed alongside HRA. LTA covers travel costs for you and family while HRA covers housing rent.