Ranjeet on June 19th, 2010

One tax exemption almost everybody can avail is on House Rent Allowance (HRA) To calculate HRA exemption, use the least of the following amounts: Actual house Rent allowance received Rent paid in excess of 10% of salary 50% or 40% of salary (50% in case of Delhi, Mumbai, Kolkata & Chennai, 40% for other cities)

Continue reading about HOUSE RENT ALLOWANCE U/S 10(13A)