If you don’t receive the HRA component in your salary, you can claim maximum of Rs. You can claim HRA (House Rent Allowance) in order to save income tax under Section 10. HRA Exemption Calculator for Salaried Employees can be used to know your HRA Exemption limit. Watch below video to know more ways to save Income Tax: HRA exemption is not allowed in new TAX regime since it has reduced Tax Slab rates. You can save Income Tax by claiming HRA amount ( based on above calculator) if you stay on rent, only when you choose Old Tax Regime to calculate your Income Tax. So Actual Rent minus 10% of Basic Salary becomes Rs. Let’s understand how we reached to this figure:ġ0% of Basic Salary = 10 * Rs. 95,400 as HRA and reduce this amount from Taxable income to calculate your Income Tax using Old Tax Regime. #2 calculation above is minimum of all 3. Let’s consider below example of Rent, Basic Salary and HRA: HRA Exemption Calculator using Excel by FinCalCĪnd below are the calculations based on above calculation formulas: HRA Exemption Amount Calculator
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