Rent paid to land lord for the year 2012-13

This query is : Resolved

Guest

Guest (Querist)

14 March 2015 Mr a is the paying rent to landloard rs

200000/- for year 2012-2013 in delhi

my question is hw much benefit for income

tax purpose he gets from this

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 March 2015 if you are in employment and receiving HRA then you can calculate the HRA exemption u/s.10(13A) which is subject to minimum of

1. Actual HRA
2.Excess of rent paid over 10% of basic salary plus DA
2. 40% of Salary plus DA (if metro city 50%)

if you are not employed and employed but there is no HRA component in your salary then you can calculate the deduction u/s.80GG