0
Lets assume you have HRA as a salary component. So the next step is to calculate the taxation aspect of the HRA Component. In order to do this, you need the following:
1. Your Basic Salary
2. The Actual HRA Component in your Salary
3. The Actual Rental paid every month
4. Whether you live in a Metro or a non-metro
Once you have these details, try to calculate the following numbers:
1. If you are in a Metro - take 50% of your Basic salary and if not, take 40% of your Basic Salary
2. The Actual monthly HRA component from your salary
3. The Actual Rent paid - 10% of your Basic Salary
Of these 3 figures whichever is the least is your eligible tax deduction against HRA.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What is an HRA?
In India , HRA means House Rent Allowances
What is the full form of HRA?
House Rent Allowance - full form of HRA
What is the claimed benefit of Dr Oz's Green Drink?
The claimed benefit of Dr. Oz's Green Drink is it speeds up metabolism, improves energy and deactivates systemic yeast. Another benefit is it stabilizes blood sugar.
What actors and actresses appeared in Hra - 2004?
The cast of Hra - 2004 includes: Kate Lipscombe
What is hra applicable in pathankot?
Yes, its applicable in all states/cities in India. As long as you receive HRA as a component in your salary and live in a rented house you can claim HRA tax benefits
How much percentage of basic salary of hra?
Lets assume you have HRA as a salary component. So the next step is to calculate the taxation aspect of the HRA Component. In order to do this, you need the following: 1. Your Basic Salary 2. The Actual HRA Component in your Salary 3. The Actual Rental paid every month 4. Whether you live in a Metro or a non-metro Once you have these details, try to calculate the following numbers: 1. If you are in a Metro - take 50% of your Basic salary and if not, take 40% of your Basic Salary 2. The Actual monthly HRA component from your salary 3. The Actual Rent paid - 10% of your Basic Salary Of these 3 figures whichever is the least is your eligible tax deduction against HRA.
What are the ratings and certificates for Hra s kameny - 1965?
Hra s kameny - 1965 is rated/received certificates of: Denmark:A (2003)
Salary under HRA it encompasses salary component only?
Yes. The HRA Component is also part of your overall salary package
Do cod liver oil tablets benefit arthritis?
It is claimed there is and I take them my self just in case however there is no real definitive proof that they are of benefit.
What business entities are exempt from HRA's?
From an Indian Income Tax perspective, only Individuals can claim exemption under HRA not business entities
Can you claim HRA if you get rent reimbursement from company?
No you cannot. You need to be paying your house rent from your pocket if you want to claim HRA tax benefits
What is the abbreviation of hra?
House Rent Allowance
