About house rent deductions

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012 SIR, I AM A GOVT EMPLOYEE IN EDUCATION DEPARTMENT.MY PAY SCALE IS 10300/34800+5000. AND BASIC PAY IS 18450.
I AM PAYING RS. 4500/- PER MONTH AS A HOUSE RENT. HOW MUCH TAX DEDUCTION CAN I GET.
PLZ GIVE ME CALCULATIONS.

THANKS

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
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18 April 2012 You can claim exemption(least of below 3) U/s 10(13A) of income tax act.

1.Amount of HRA received.

2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) /40 % of salary in in any other case.

3.Rent paid in excess of 10 % of salary.

Salary here means basic salary which includes dearness allowance if the terms of employment provide for it, and commission based on a fixed percentage of turnover achieved by the employee.

with the above you can easily get it.