Claim of Hra exemption
This query is : Resolved
19 March 2023
I am a salaried person and get monthly hra. I want to claim exemption of hra by paying rent to my parents so is it mandatory to enter into rent agreement or can I pay the rent and claim exemption?
19 March 2023
In case of any query, you are required to produce original rent agreement, so it is advisable to prepare it.
19 March 2023
Can the rent agreement be on plain paer or anything else is required?
19 March 2023
In most of the states it is executed on Rs. 100/- stamp paper with notarization. Check the rates prevailing in your state.
19 March 2023
Except 80c what other deduction can I avail for tax saving?
19 March 2023
As per the Income Tax Act, salaried individuals are eligible for HRA exemptions under Section 10 (13A) per rule number 2A of the Income Tax Act. BUT ONY UNDER OLD TAX REGIME.
19 March 2023
The following are some of the major deductions and exemptions you cannot claim under the New Tax Regime, while the same were eligible under OLD Tax Regime:
The standard deduction under Section 80TTA/80TTB
Professional tax and entertainment allowance on salaries
Leave Travel Allowance (LTA)
House Rent Allowance (HRA)
Minor child income allowance
Helper allowance
Children education allowance
Other special allowances [Section 10(14)]
Interest on housing loan on the self-occupied property or vacant property (Section 24)
Chapter VI-A deduction (Section 80C, 80D, 80E and so on, except Section 80CCD(2) and Section 80JJAA)
Exemption or deduction for any other perquisites or allowances including food allowance of Rs 50/meal subject to 2 meals a day
Employee's (own) contribution to NPS
The standard deduction under Section 80TTA/80TTB
Professional tax and entertainment allowance on salaries
Leave Travel Allowance (LTA)
House Rent Allowance (HRA)
Minor child income allowance
Helper allowance
Children education allowance
Other special allowances [Section 10(14)]
Interest on housing loan on the self-occupied property or vacant property (Section 24)
Chapter VI-A deduction (Section 80C, 80D, 80E and so on, except Section 80CCD(2) and Section 80JJAA)
Exemption or deduction for any other perquisites or allowances including food allowance of Rs 50/meal subject to 2 meals a day
Employee's (own) contribution to NPS
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