Are you claiming the Right HRA Exemption on your Rent? ????

For salaried employees, HRA exemption is the biggest way to save taxes.

& claiming it correctly can significantly reduce your taxable income if you're paying rent.

Let's learn how to calculate it correctly.

Calculating HRA (House Rent Allowance) exemption involves three critical criteria and calculations:

1. HRA Limit Based on Your City: Metro Cities: If you live in these , 50% of your basic salary plus dearness allowance (DA) will be considered for calculation. Non-Metro Cities: If you live in these, 40% of your basic salary plus DA, will be considered for calculation
2. Actual Rent Paid Minus 10% of Basic Salary + DA: Subtract 10% of your basic salary plus DA from the rent you actually pay.
3. Actual HRA Received: This is the amount your employer provides as House Rent Allowance.

To determine your final HRA exemption, the lowest amount from these three criteria is chosen and deducted from your HRA in your salary statement.

Don't lose out on your hard-earned money!

Watch the Full Video Tutorial on YouTube. Link below!

https://youtu.be/Cr-FWvdib4U?si=Mf4B4NtUaUzbnuT0

? Claim your HRA Exemption and save BIG on your taxes this year & if you saved some money using this information, don’t forget to comment & let everyone know!

Amit Jain