Least of the three shall be exempt:-

1. actual HRA received:- 29,981

2. rent paid in excess of 10% of Salary:- 18,000 - 10% of 59962 = 12,004

3. 50% of Salary:- 50% of 59,962= 29,981

Taxable amount of HRA = 29981-12004= 17,977