I am an employee in an organization. I do stay in a rented house. The amount Which i pay as house rent is much more than the HRA I receive. How can i claim this difference while filling Tax return.
The claim of HRA depends on the salary you receive during the year. U can claim exemption to the least of the following:
1. Actual HRA received
2. Excess of rent paid over 10% of salary
3. 40% or 50 % of salary depending on ur place of residence. Refer to section 10(13A) of IT Act.
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