Under the new tax regime, HRA tax exemption is not available. Section 115BAC, which governs the rules for the new tax regime, bars an individual from claiming HRA exemption. A salaried individual ...

Sanjoli Maheshwari, Executive Director of Nangia Andersen India, says, "As per the provisions of Section 10(13A) of the Income-tax Act, 1961, tax exemption on HRA is allowed only for rent payment ...

Leave Travel Allowance (LTA) lets salaried employees claim tax exemptions on travel expenses during their leave incurred for ...

If you live in a rented house but don't get House Rent Allowance (HRA) in your salary, there is no need to worry. Under Section 80GG of the Income Tax Act, you can still claim tax exemption on ...

How to calculate HRA exemption? According to Section 10 [13A] of the Income Tax Act, 1961, salaried individuals in India can claim an exemption on their House Rent Allowance (HRA). This exemption ...

When HRA exemption is not permitted ... For both of these cases, Section 80 (G) of the Income Tax provides assistance. Simply put, if you are disbursing rent for furnished/unfurnished ...

For instance, HRA in Mumbai can go up to 60% of basic. The key benefit of HRA is that it is tax-exempt under section 10(13A) of the Income Tax Act, 1961. However, only the amount spent on rent or ...

There is no change in Section 10(13A) of the Income-Tax Act, 1961 which provides for HRA exemption. However, in such case, you should keep all the documentary evidence such as rent agreement ...

Section 24(b): Deduction on Home Loan Interest ... lives in a rented accommodation then you can seek partial exemption through your HRA. This particular figure i.e., HRA is the least of: actual ...

Under the old tax regime, HRA is exempted under section 10(13A) of Income Tax Act for salaried individuals, states information on the Income Tax India website. However, this exemption is not ...

These employees should make this claim in the tax return form by completing the relevant particulars, i.e. indicate the HRA received from the employer and the correct amount exempt under Section ...

This article discusses the importance of rent receipts and agreements for claiming House Rent Allowance (HRA) tax deductions. Having both rent receipts and agreements is recommended to prove that ...