House Rent Allowance (HRA) Exemption Rules & its Tax Benefits

HRA is covered under Section 10(13A) of Income Tax Act 1961. Salaried Employees who live in a Rented house can claim HRA to lower their taxes – partially or wholly. The decision of how much HRA needs to be paid is made by employer. Part of Salary is apportioned to HRA. 1. CONDITIONS FOR CLAIMING HRA EXEMPTION? Salaried Individual only can claim …

House Rent Allowance (HRA) Exemption Rules & its Tax Benefits Read More »