How to show HRA exempt allowance in ITR 1| AY 2018 19| Neeraj Mudgal|Section 10(13A)
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By - Amlan Dutta
HRA (house rent allowance) can be partially or completely exempt from taxes. The allowance is for expenses related to rented accommodation. If you don’t live in a rented accommodation, this allowance is fully taxable.
HRA exemption is available under section 10(13 A) for the least of the following,
The deduction available is the least of the following amounts:
a. Actual HRA received;
b. 50% of [basic salary + DA] for those living in Delhi , Kolkatta, Mumbai and Chennai (40% for non-metros); or
c. Actual rent paid less 10% of basic salary + DA
You will show it in ITR 1 under exempt income reporting section using nature of income as exempt HRA under section 10(13A) as shown in the video
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