HRA Exemption Calculator EXCEL | House Rent Allowance Calculation to Save Income Tax
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- čas přidán 28. 08. 2024
- HRA Excel Calculator| How to Calculate HRA Exemption Even WITHOUT STAYING ON RENT| House Rent Allowance | How to calculate HRA in income tax
In this video by FinCalC TV, we will see how to calculate HRA or house rent allowance exemption using Excel Calculator examples and what is HRA in salary. We will also see how you can pay rent to your parents and claim HRA to save income tax by reducing taxable income. hra exemption calculation for ay 2021-22, ay 2022-23
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After watching this video following queries will be solved:
What is HRA or House Rent Allowance?
How to calculate HRA exemption amount?
HRA exemption without PAN
HRA exemption without rent receipts
HRA exemption limit and section to save income tax
How to claim the HRA benefit to save Income Tax?
How to claim HRA by paying rent to parents?
How to claim HRA without staying on rent?
When can you not claim HRA exemption?
Claim HRA by staying in different city?
Claim hra and loan emi installments
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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.
Calculation of tax-exempt HRA amount
The amount of HRA received by you from your employer is not fully exempt from tax. The tax-exempt portion of the HRA is actually the minimum of the following:
a) Actual HRA received from employer
b) 50 percent of the 'salary' if the accommodation is in the metro cities (Delhi, Mumbai, Chennai, Kolkata) or else 40 percent for other cities
c) Excess rent paid annually over 10 percent of the annual 'salary'
Here 'salary' means basic salary & dearness allowance (DA) only
WATCH FULL VIDEO TO SEE EXAMPLES.
How to claim the benefit
To avoid excess TDS from being deducted from your salary, you will have to provide rent agreement and/or rent receipts to your employer. If your annual rent payment is more than Rs 1 lakh, then you will provide your landlord's PAN, as well, to your employer.
However, even if you have forgotten to submit rent receipts/rent agreement to your employer, then you can claim the benefit at the time of filing of income tax returns. It is advisable to keep proofs of rent paid and rent receipts as the tax department can ask you to provide it to authenticate your claim.
Special cases to claim HRA benefit
1. Rent paid to your parents
If you are staying with your parents and paying rent to them, you will be eligible to claim the tax-exemption on HRA. Experts suggest that it is advisable to have a documented evidence such as rent receipts, financial transactions, rental agreement to avoid rejection of claim by the tax department. There have been instances where the Income Tax department has rejected claims because there was no genuine proof of transactions having taken place.
2. Own a house but staying in a different city
Even if you own a house but are staying in a different city because of your job, then, too, you can claim HRA benefit if you are living in a rented property.
3. When can you not claim HRA exemption
If you are receiving HRA but are staying in our own apartment, then you cannot claim the HRA exemption benefit. The whole HRA amount received will be taxable in your hands.
#HRACalculator #HouseRentAllowance #HRAExamples #Excel #Calculator #FinCalCTV
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The examples used are for Illustration purpose only.
Comment in comments section if you have any queries.
Thank you for watching :)
DISCLAIMER:
Examples used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.
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*... wow, very nice... great information... thanks to you...*
When you claim rebate in section 80gg, you will have to file declaration form also.
Whether DA on salaried of Govt employees be taken in part of salary for computation of HRA.
Admin bro , Hi, muze salary me HRA milta he but muze wo HRA deduction nai Lena...so ye excel wala calculation applicable hoga mere case me??
Aapke case me Jo min amount he 84k wo taxable income se minus kroge toh aapka taxable income aur kam hoga rht ?
Superb sir Aaj aapka video dekh ke mene hrs shikha khub dhanyawad
In the video, he mentioned only t
he basic salary which is without da, ta and other allowances, but in a calculation of hra exemption, the da+basic salary is counted.
You are right
Sir aapka explain karne ka tarika hame bahut achcha laga.sir sukanya NSC and CEA kabhe explain ker ke batayiye.
thanks. Sukanya aur NSC ke liye ye videos dekho:
Sukanya: czcams.com/video/u2VUWt6Yaqc/video.html
NSC: czcams.com/video/JxWPGBFjBjs/video.html
Sir
If in my salary slip. Only DA component given but HRA not given. Then how to calculate min Value???
Thank you for this amazing video and knowledge... All the best :)
Glad it was helpful!
Hii Abhilash
Nice to see you here, Grt work!
Thank you so much 😀
GOOD INFORMATION THANK YOU SIR....THANKS A LOT
Welcome 👍
Very good explanation
Thanks and welcome
Nashik, Maharashtra, India
Informative VDO,👍आपका समय और ज्ञान का योगदान देने के लिए धन्यवाद🙏ITR 4 New regime मे 80GG क्लेम कर सकते है?
Excellent explanation
Thanks 👍🙂
Very nicely explained house rent allowance
#dnyandarshan
Thanks
Hi
Very well explained Thank you for the detailed info
i have provided my landlords PAN , but later got to know that property owner is his relative
will my HRA gets rejected
pleaseeeee kindly help me with this
I have some confusion regarding ITR that we will in this year after competition of FY 2022 So, My annual income is 540000, and I have invested 20000 in ppf account. I am little bit confused should I invest more because as per my knowledge standard deduction of 50k will be applicable on salaried class and I have one more query if I want to claim HRA then I have to show rent agreement or something please guide me In short do I need to invest more to get my TDS back ... ?
Thank you for your nice video🎥.
Thank you too
Mr. This was applicable in old Portal, in new Portal you have to give Talant receipt, Pan card & Receipt etc. Special page for 80GG
Upto limit 100000
What is talant receipt?
If I live in a house owned by my wife that is financed by bank, can I claim deduction in income tax for 22-23 F.Y.?
@@vermaprakash29555Tenant Receipt
If we adopt 2nd option (actual rent- 10% of BS) then will we have to submit receipts or any declaration or any transaction details.
Sir !
(1) Got maturity amount 5 years Tax Saving FD (SBI). If interest is chargeable in Income ???
(2) Getting an amount par month as pension from LIC for which a sum as premium was invested for 7 years . After completion of 7 years getting an amount monthly as pension. Is this pension taxable or some rebate is allowed under any section of Income Tax Rule ???
(3) Getting an amount quarterly as pension from LIC for which a lump sum amount was invested before previous quarter of the start of pension. Is this pension taxable or some rebate is allowed under any section of Income Tax Rule ???
Well explained thank u😇
Welcome 👍🙂
Thank you sir
Your videos are always helping me a lot
This year I was a govt employees in the month MAR -22 and April-2022 and received HRA but after that I joined a non govt added institute where there is no HRA then can I claim HRA exemption
Superb video
Thanks
Sir में सरकारी आवास में रहता हूं मुझे हाउस रेंट नही मिलता है पर में सरकारी आवास का हर महीने रेन्ट देता हूँ 750 रुपये महीने जो सैलरी स्लिप में कटौती होती है क्या में भी 80gg में क्लेम कर सकता हूँ प्लीज बताये
Nahi re bhai ...
What Amt to be exempted if after deduction of 10 percent amt of Bp from rent received comes negative
Sir, very good video.. my confusion cleared, if rent is very low that Rent-10% basic negative ajaye tab HRA deduction claim hi nahi kar sakte.. maniye apke example mein rent agar ₹2500 ho tab..
Yes I also want clarification in this case..
What if difference between actual HRA received and 10% of Basic salary is negative..
Can we claim HRA exemption
No..0 in this case
Hi, Will I get the HRA amount (part in salary structure) in my salary if we own a house? please let me know
superb video
Thanks
Welcome
If i pay rent to my parents & claim hra exemption,Then is it mandatory to file itr for parent to whom i have paid rent? Also plz guide to what extent i can pay rent in cash which can be considerable as per guidelines...??
No cash payment to parents.. it's only online payment or cheque... czcams.com/video/OwXBjdBT4gg/video.html
सर हमार एक doubt है पहले 9 महीने तक केवल सैलरी रिसीव हुआ हो और अगले 3 महीना में HRA मिलना शुरू हो गया हो जबकि हम एक रेंटेड प्रॉपर्टी में रहते हैं जिसका किराया हम ऑनलाइन पे कर रहे हैं तो क्या हम HRA ka claim कर सकते हैं या 80GG का ya दोनों कर सकते हैं Kon sa better hoga
Nicely explained
Thanks for liking. stay connected
Lekin agar Parents ka income taxable hai to aise samayme by getting rental amt from our children then ye Parents ka income karke show karna padega.Vapas Ye income( in the form of rent) will become taxable amount of Parents.
Very good.
Thanks 👍🙂
*... wow, very nice... great information... thanks to you...*
Welcome 🙂👍
Starting me aapne bataya ki 60K ka hi HRA claim kar sakte hai as per calculation of 5k per month but last me jab aapne claculation nikal or usme paya ki actual rent - 10% of basic salary amt 84K hai to aapne kaha 84K ka claim HRA me mil jayega so please clear my confusion....plz.
We watch your videos, so plz clear our doubt also.
Okay, I understand, means section 80GG me hum 60K ka hi claim kar sakte hai or HRA ke case me hum sabse minimum amt claim kar sakte hai wo chaahe kitna bhi ho.
Right??
If employer not paying HRA then in that case HRA deduction permitted or only in case of HRA received. For example pensioner.
Can be claimed under section 80GG if HRA is not being received. Maximum of rs. 60,000 is allowed to be claimed in year in this section
Sir aapke last tip Mei, for salaried employee kya humko rent agreement dena compulsory hai kya with rent receipts ke sath office Mei??? If total yearly rent is below 1 lakh
Agar employer maangta hai to dena padega na
Good question..
Very nice
Thanks
Nice vdo
Thanks 🙂👍
Very nice 👌👌👌
Thanks
Very good information sir
Thanks and welcome. SUBSCRIBE for more such videos and share with your friends
Nice
@@vandanajoshifamily8765 thanks :)
Do we need a rent agreement with parents to get HRA by paying rent to parents?
Yes
Kya ham march month me parents ke Bank account me total year ka rent like 1 L rupees transfer kar de to HRA claim. Kar sakte hai kya.. salary employees ke liye
Nahi, har month kijiye, rent receipt parent or any one of them if co-owner hain to sign karke rakhiye... Possible ho to ek rent agreement banwa lijiye
Sir panchkula city mei apna flat hai per mei Chandigarh mei rent per rehti hui pensioner hui--kya mei rent rebate le sakti
Is furnishing PAN no of landlord essential . What document or condition is required for claiming HRA .
Hi sir...... I am not staying in a rented house......but if I want to exempt 80,000 as HRA..... Do I need to submit any rental proof and pan card while filing ITR returns????
Yes
PAN card of owner only if rent exceeds 100000 per annum. Else, you need to submit rent receipts only.
Nice explanation kya ap sample 12bb form bhi bata sakte h
Good explanation bro..
Whether amount of Dearness Allowance to be taken as part of Salary for calculating HRA exemption. HRA is admissible based on pay only.
Imp. Que.. : What if the employee and his parent owns a joint ownership of the house accomodation. Can he pay rent to his joint owner parent and take exemption benifit...?
No
Can you please provide this excel , Thanks for making the daily finances so simple
Sir Rent agreement bi banwana padega kya parents k name se ya fir account mai paise transfer karne se chalega
Income tax rebit lene ke liye kya bhai ka makan kiray par le sekte h uske liya kya krna hoga
Ha le sakte hai agar makaan aapke Bhai ke naam pe hai to
Sir can you please add video regarding nursing allowance 7200/- per month is taxable or not
HRA ki Receit usi district ki hona jaruri hai jaha Naukari kar rahe hai ?
Dusere district ki mani ja sakti hai kya ?
Sir Mai Paramilitary me job krta hu or mujhe mere pay slip me HRA milta h bt 16no. Form me HRA ka amount gross salary me include hota.. Alag se HRA ka amount show nhi hota h
Or mai rent v pay nhi krta hu or naa hee mere pas rent agreement h. Mai apne parents k sath rhta hu bt wo ghar parents k naam pr h mere naam se koi v property(ghar) nhi h
Toh kya mai HRA CLAIM KR SKTA HU?
Now my manager wants me at office. Can I pay rent at 2 places? Like: actual rent + rent paid to parents, to maximize and claim total on HRA?
Note:
1. Parents live in different city than which I work in. So both locations are in different cities. 2. My parents are not dependent on me.
I think I still can pay it to both as I need both places on rent?
Ethically it cannot be done bro.. please don't put yourself in trouble by doing so just to save some tax amount
@@fincalc Can i pay to parents saying I am doing WFH and show no expenses/transactions of where I am living
@@arihantjainableDo you find any answer to this question?
Sir as u said paying rent to parents do we need rent agreement in this case..?
Yes it is best to have all documents in place.. you can simply have aren't declaration being signed by you and parent who is the owner of the property and submit it to your employer for tax calculation and deduction purpose
Sir main rent pe nehi ratahu lekin basic pay ka 9% milta he. Itr me dekha saktahu?
Sir Maine pura Saal parents ko rent nahi diya aur last me agar 60k dedo toh hoga kya
Mera to landlord rent agreement me sign करने से इंकार कर रहा है, Paying 7000 per month. Kya registered rent agreement without landlord HRA claim कर सकते हैं? Itr filing के समय? Plz help me
Thanks for the information. Company provides me Basic + HRA + other allowances , i am staying in parents house. Can i ask my company to pay only Basic + other allowances, pls suggest
9o
What about Pensioner, Can they also take deduction under 80gg.
Helloo… pls clear my confusion.. my accountant said it’s actual rent - 10% of basic + da. But you didn’t mention da
Yes its basic + DA
It's not included in video since most salaried employee only have basic component
@@fincalc Okay! thank you for the response
@@fincalc
if HRA is receive on basic only then exemption of HRA ,DA including in not justify
Basic pay ke Saath DA ki bi need h kya
Agar pure Sal ka hra and rent paid Dono 1 lac se kam ho rha h to rent receipt dena padega kya
ha rent receipt dikhana padta hai
Sir I want to know that whether income tax is calculated on the basis of gross salary or on net salary.
gross income and investments are considered. watch this video czcams.com/video/USW68EaURfg/video.html
क्या स्वयं के मकान में रहने वाला व्यक्ति भी HRA claim कर सकता है
जिसने स्वयं house loan लेकर मकान वनवाया हो
What if I stayed in Chennai and Bangalore , in the same year paying rent? Then for calculation do you take 50 or 40 %
Agar koi rent pr nii rhta , kya toh b company us employee ko hra de skti h , because Kai log own house mai rhte h but unko hra milta kya ye legal ?
Own house wale b hra le skte h ????
yes company saare employees ko HRA deti hai, whether vo rent pe rahe ya apne own house me
Sir g,
Mai company ke Quarter me rahta hu aur mujhe House maintenance allowance milta hai to is condition me kya hoga
How much money we need to pay to our parents then ? Our actual rent or whichever is minimum amount has come ??
Actual rent amount
@@fincalc okay thank you.
Sir, can any person claim HRA exemption by paying rent in two different cities. For example person A lives in delhi on rent with wife and kids. He got new job in Mumbai. Due to children school he decided not to take family with him and took another rented apartment in Mumbai for himself. Now A is paying rent for 2 property- in delhi and in Mumbai. Both rent agreement are on his name. Can he consider both rent amount while calculating exemption for HRA? Pls help sir as I couldn’t find answer to this anywhere. Thanks in advance.
You can only claim hoti the minimum amount as per your salary structure. Even if you pay 10 rents.
aur uspe parents ko tax bharna pdega if they fall under taxable slab, right?
Yes
Hi, can someone advice on this
- I got a demand notice under section 143 one month back
- it is basically proposing to disallow my HRA. While.it is mentioned clearly in my form 16 but the department is not considering it - don't know why
- i have provided a respose also and raised a grievance also but not getting any feedback from them
- its been more than a month
Is there something I can do
Please help
8300 uppar mat dalo
if any one have paid rent to two landlords of amounts below Rs. 1 lakh each (for eg. Rs.1.8 lakh in total). Do I still need to submit the PAN details of both my landlords to my employer for claiming the HRA exemption?
Yes you need to provide PAN of both landlords since the aggregate rent paid by you is more than Rs. 1 lac in FY
I want to claim HRA deduction for Apr2022 to Mar2023 but as I have not made rent agreement earlier because I was not aware it is mandatory so can I make the agreement on today's date of stamp paper Is it valid to Submit to income tax dept if scrutiny comes
Which type of documents required for proof of Rent.
Whether parent has to show the rent in his income
Yes
क्या पेंशनर जो सुपर सीनियर सिटीजन 81 व वर्ष से अधिक है क्या वह भी H R A Tax exemption में ले सकता है?
बेसिक सैलरी में डीए सामिल होगा या नहीं
2022_23 के लिए video बनाइये
check latest video here: czcams.com/video/J5KugtFfmJw/video.html
If i transfer money as a rent to my parents account and while claiming HRA is this any documents I need to show while claiming HRA exemption.
Yes rent declaration and rent receipts are good to have
Bhai, abhi metro city & non metro city me HRA 50% of BS & 40% BS hai ya 27% of BS & 18% of BS hai??
50% and 40% hi hai Bhai.. koi rules agar change hue hai recently to check Karna padega
Sar agar kisi ka apna khud ke Naam flat Ho the HRA le sakta hai private bank mein salary employee ho
Salary me basic pay + DA Count नहीं होगा क्या?
Yes basic + DA hoga
I have not paid rent to my parents, now it's the month of march, Can I pay the whole year rent now and claim exemption while filing itr.? please guide
Yes
If I am working let's say in bangalore but due to covid - 19 currently I am working from home then Can I take benefit of HRA by paying rent to my parents in my home town. Means, Is working location and staying location matters. Please reply.
can HRA to be paid to sister or brother if we leave on there property
I have purchased house as joint both husband and wife . Can I show in ITR that m paying rent to my wife .....
No. Since you are the co owner of house
Sir mujhe itr mai HRA deduction Lena h but mene koi online transaction nhi ki h. I m residing at my parent home. Can I claim hra without paying rent through online transaction or cheque?
Bhai mujhe 19-20 ka HRA 20-21 ko mila, jiske karan maine previous year me HRA deduction claim nhi kar paya, aur ab iss saal yadi form 10E me kya bharna padega.
क्या अपने मकान में रहने वाला पेंशनर एचआरए का क्लेम कर सकता है
Sir ,
I live in Mumbai.
I changed a job from different locations.
First company was in Thane where HRA received on the basis of 40%of basic salary.
Second company was in Kurla where HRA received on the basis of 50% of basic salary.( Joined in October 2020)
How shall I fill IFS in ITR ?
In ITR, it was not elaborate 40% or 50% basic salary.
Can I fill as given as Form 16 by employer ?
Yes, both form 16s from previous and existing employer should be considered.
Sir money transfer kayse koru check se yea net banking se
Cash me rent dete h to HRA claim kar sakte h
Or kitna kar sakte h ji
Rent recipt amount yearly crossed 1lak means pan card of house owner is required ha
What doc to be attached with rent recipt
Yes Pan card required
I hv filed itr1 on 31.7.22 for rs 450000/- with no tax in old tax regime.
Can I revise it with itr2 and in new tax regime for rs 8.12 lakh
Hra ki chhut lene ke liye hme rent property ka agreement krvna hota he KYa bhai .Ayr rent ki receipt kese le
Sir I am a salaried person and my yearly income is 1343154. Then what will be my tax liability in new tax regime.
How to file ITR, share video pls
Sir home loan hone ke bad bhi kya HRA claim kar sakte hai
Yes
If I share my rent with another person. But the rent agreement is in the name of the other person, can I avail tax exemption? I pay half of the rent
oh that might be a problem. can you have a separate agreement if possible then please go ahead. You can also check with your organization
Sir can I claim HRA exemption, my rent paid is less than 10 percent of my basic salary
The rent I paid is less than Rs. 50000 annually.
Do I need to show the rent agreement and receipts