Bal Sa: 121526
HRA : 72913
actual rent paid : 78000
I stay in Pune
Wht will be mu exemption
Pls advice
1 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 28 December 2007
Hi Sandeep
Calculation of HRA exempt and taxable
1. If you are staying in any four Metro city 50% of your salary. Otherwise 40% of your salary.
2. HRA Actually Received by you for the period during which you occupied the house.
3. The excess of Rent paid over 10% of your salary.
LEAST OF THE ABOVE THREE IS EXEMPT & REST IS TAXABLE.
IN YOUR CASE (On the basis of above three rule)
1.72913
2.48610 ( 40% of 121526)
3.65847 (78000-12153)
Therefore you will be get a exemption of Rs. 48610 p.a
Thanks & Regards
Amit Daga
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