mr. mohan resides in Kanpur. He gets a basic salary of ₹2, 00,000 and dearness pay ₹2, 00,000 and house rent allowance of ₹1, 50,000 per annum. He pay a rent of ₹180000 per annum. Determine the amount of H. R. A chargeable to tax??
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An easy way to calculate your House Rent Allowance from Basic Salary using ... Rs. [(50,000 x 12) x 50%)] = Rs. 3,00,000; Excess of rent paid annually over ..
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Actual HRA received = 1,50,000.
Rent Paid in excess of 10% of salary = 1,40,000.
50% of Basic Salary = 2,00,000.
Amount of exempted HRA = 1,40,000.
HRA chargeable to Tax = 10,000.
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