As per income Tax act, for calculation House rent allowance least of the following is available as deduction :
- Actual HRA received
- 50% / 40%(metro / non-metro) of basic ‘salary’
- Rent paid minus 10% of ‘salary’.
To Download excel based HRA calculator click here:
To Download excel based Income tax calculator visit here
PAN No of Landlord compulsory if Rent Exceeds Rs 1,00,000/- in a year