![]() ![]() 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 Let’s understand this with the help of examples below.You can claim full HRA received in #1 only when the number is higher in #2 and #3 calculations above.Where Salary means “Basic Salary + Dearness Allowance” The Tax exempt portion should be minimum of the following calculations:Ģ. 50 percent of the ‘salary’ if the accommodation is in the metro cities (Delhi, Mumbai, Chennai, Kolkata) or else 40 percent for other citiesģ. Excess rent paid annually over 10 percent of the annual ‘salary’.The amount you receive as HRA ( HRA full form is House Rent Allowance) is not fully tax exempted.But let us understand the working of this calculator: The above HRA Exemption Calculator for Salaried Employees can help you calculate your exemption limit easily. This HRA calculator gives you a rough idea about the approximate amount you can claim as HRA exemption to save Income Tax.ĪLSO READ: Other Tax Saving options available for Tax Payers How is HRA Exemption Calculated.If you live in metro city then 50% of basic salary will be considered else 40% will be considered in non-metro city to calculate your HRA exemption amount.It does not take into account the change in basic salary or rent components in between the financial year. ![]() The HRA calculator would give you accurate results when you provide correct information of your Basic + DA components of your salary, HRA amount received and the rent paid by you, all figures on yearly basis.But here are few points you should consider: The above HRA Exemption Calculator for Salaried Employees helps you calculate the HRA amount you can claim to save Income Tax. HRA Exemption Calculator for Salaried Employees Video Check below video on HRA exemption calculation using excel.Īlso, you can claim HRA even if you don’t stay in rented accommodation. In case you switch the jobs or when your rent amount changes in same financial year, then you have to carefully track those numbers on monthly basis to reach the actual HRA exemption limit you can claim to save income tax. Note: Above calculator helps you to calculate approximate HRA exemption amount when you work in one organization throughout financial year. Can I claim HRA without staying on rent?.HRA exemption without HRA component in salary?.HRA exemption in new tax regime allowed?.DOWNLOAD HRA EXEMPTION EXCEL CALCULATOR.HRA Exemption Calculator for Salaried Employees Video.Download our Android App FinCalC to see Slab-wise details of your Income Tax Calculation.Download HRA EXCEL Calculator from here. ![]()
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