Calculation of hra in itr -indv.

This query is : Resolved

ASHISH KUMAR NAMDEV (Querist)
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12 February 2012 DEAR SIR,
MY TAX CALCULATION & HRA CACULATION FOR
F.Y.2010-2011
F.Y.2011-2012 & OF

THE METRO AND NON METRO CITY BASIS

BASIC SALARY - 30000/-PM
HRA(FROM COMP.) - 10000/-PM
D.A. - 3000/-PM
TELEPHONE ALL. - 1000/-PM
CHILDREN EDU.ALL. - 1000/-PM
CONVEYANCE ALL. - 3000/-PM
SPECIAL ALL. - 2000/-PM
________________________________
TOTAL - 50000/-PM
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HRA CALCULATED IF
1-RENT PAID 15000/-PM WITH RECT./AGREEMENT.
2-WITHOUT RECT.
3-INVESTMENT U/S 80C 112000/-(LIC-21000/-,LOAN PRINCIPAL PAYMENT-80000/-PA.TUTION FEES 11000/-PA)
4-PYMNT U/S 24(2) INTT.ON LOAN 2NAME-60000/-
5-PAYMENT U/S 80 MEDICLAIM POLICY 18000/-PA
6-NO OTHER PERKS RECD. DURING THE YEAR.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 February 2012 HRA calculation based on your HRA received and Basic+da and rent paid

so your given details

1.40% Salary Rs.13200(33000x40%)
2. Actual HRA Rs.10000
3.Excess of Rent over 10% salary Rs.11700(15000-3300)
so minimum of these Rs.10000 HRA exempted

Metro means 50% basic Rs.16500, but exemption is same Rs.10000 only

2. If No receipts - Exemption is Rs.Nil

All other criteria will not effect the HRA calculations

Only if you are staying own house and claiming housing interest then HRA cannot claim