![]() The amount you receive as HRA ( HRA full form is House Rent Allowance) is not fully tax exempted.But let us understand the working of this calculator: The above HRA Exemption Calculator for Salaried Employees can help you calculate your exemption limit easily. This HRA calculator gives you a rough idea about the approximate amount you can claim as HRA exemption to save Income Tax.ĪLSO READ: Other Tax Saving options available for Tax Payers How is HRA Exemption Calculated.If you live in metro city then 50% of basic salary will be considered else 40% will be considered in non-metro city to calculate your HRA exemption amount.It does not take into account the change in basic salary or rent components in between the financial year.The HRA calculator would give you accurate results when you provide correct information of your Basic + DA components of your salary, HRA amount received and the rent paid by you, all figures on yearly basis.But here are few points you should consider: The above HRA Exemption Calculator for Salaried Employees helps you calculate the HRA amount you can claim to save Income Tax. There are certain rules you need to follow along with HRA calculation formula you must use to calculate HRA exemption, because not entire HRA amount can be exempted from taxable income.But, if you stay on rent, you can claim HRA exemption to reduce your taxable income which will help save your Income Tax.Not all of us stay on rent, so this HRA amount becomes taxable if you do not stay on rent.HRA is provided to you so that it helps you pay your rent if you stay in rented accommodation. ![]() You can confirm this from your Salary slip of any month If you are salaried employee, you must be receiving HRA component.HRA Exemption Calculator for Salaried Employees Video Check below video on HRA exemption calculation using excel.Īlso, you can claim HRA even if you don’t stay in rented accommodation. In case you switch the jobs or when your rent amount changes in same financial year, then you have to carefully track those numbers on monthly basis to reach the actual HRA exemption limit you can claim to save income tax. Note: Above calculator helps you to calculate approximate HRA exemption amount when you work in one organization throughout financial year. Can I claim HRA without staying on rent?.HRA exemption without HRA component in salary?.HRA exemption in new tax regime allowed?. ![]()
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