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MONITATY LIMIT FOR SELF DECLARATION FOR RENT PAID.

ca praveen kumar (private job) (69 Points)

14 February 2011

Dear All,

can any body let me know what is the monitory limit for Self declaration (to the Employer) of House Rent Paid for calculation of HRA exemption while calculating TDS from Salaries?

Also give me the limit is under which provision?

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3 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 14 February 2011

HRA Calculation will be as given below : -

For metro cities 50 % of Basic Salary

For others cities 40 % of Basic Salary

Actual Rent paid. The excess of 10 % of rent paid over basic salary. Whichever is lower will exempt.

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ca praveen kumar (private job) (69 Points)
Replied 14 February 2011

thanks for your instent respons but my quary is being an employer up to what limit we can accept the self declarion of the employee for his monthly rent payment and when we have to insist for the actual rent payment receipt.