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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MONITATY LIMIT FOR SELF DECLARATION FOR RENT PAID.
Replies (3)
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.
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.
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