Total Rent paidThe actual rent paid by you.
Actual HRA receivedThe actual House Rent Allowance received from your employer.
50% / 40% of Basic SalaryThis is 50% of Basic Salary (if in a metro city) or 40% of Basic Salary (if in a non-metro city).
Rent Paid in excess of 10% of SalaryThis is calculated as (Total Rent Paid - 10% of (Basic Salary + Dearness Allowance)).
Amount of exempted HRAThe minimum of the three conditions (Actual HRA received, Percentage of Basic Salary, Rent Paid in excess of 10% of Salary) is the exempt HRA.
HRA chargeable to TaxThe portion of HRA that is not exempt and is therefore added to your taxable income.
Note:
The least of the Actual HRA received, 50% of basic salary, Rent Paid in excess of 10% of salary is exempt from HRA.
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