How to calculate the rebet on income tax on HRA of salaried class in respect of rent he actualy paid?

Question

If govt employee get HRA about Rs 36000/- yearly and he actually paid house rent Rs 30000/- yearly. Then how much will be the rebet in tax calculation.

Answer 1

You need to give the details of the basic and DA you get.
But let us suppose that your basic +DA comes to Rs.200000/- pa

Now least of following is exempt(wont get included in your salary for tax purposes)
(i) HRA actually recd. ,ie, Rs.36000/-
(ii) 50% of your salary if in delhi,mumbai,kolkatta,chennai ,ie,
Rs.100000/-
40% of your salary if in any other city ,ie, Rs.80000/-
(iii) Rent paid less 10% of salary ,ie, (30000-20000) Rs.10000/-

Therefore HRA allowable in your case is Rs.10000/-.
This is based on the assumption that your salary is Rs.200000/-.
If other salary then calculate accordingly.

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Answer 2

It will be as per provisions of Section 10(13A) and Rule2A. LEAST of following will be deducted from salaries: (i) HRA received (II) Rent paid minus 10% of salary (III) 50%of salary in Mumbai,Delhi,Calcutta & Chennai or 40% of salary inother towns. Salary means components on which Provident Fund is deducted.

Answer 3

on your case , tax criminal duty devoid of any deduction is approximately Rs 21500 which could be actually decreased to Rs 1500 in case you hold upto Rs one hundred thousand in mounted deposit for 5 years united states80C of the I T Act . in fact there are various possibilities based upon your age and investment profile .

Answer 4

Hi,

You have to give me your salary details. How much salary have you received during the year ?

I can give you the exact working only then.

Thanks

Answer 5

Check on www.irs.gov and check these number in Tax Calculator ....good luck !!