Question

Mr. K, a non-govt. employee working in Delhi, received Rs. 20,000 as basic salary p.m., DA @ 50% (forming part of retirement benefit), HRA @ Rs. 10,000 p.m. He paid rent for his accommodation @ Rs. 12,000 p.m. Compute his taxable House Rent Allowance (HRA) for the AY 2020-21.


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Answer 1

Answer:

House rent allowance (HRA) is a basic component of your salary. However, most of us are not familiar about the rules that can help us save tax on it. If you are a salaried employee living on rent, then here's how you can use HRA to reduce your tax liability

Explanation:

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