Income tax · old regime
House rent allowance is the HRA row in the filing table. The exemption is under section 10(13A). The office is at 515 Trichy Road, Singanallur.
This page is house rent allowance. Health insurance stays on the section 80D page. The regime choice stays on the slabs page. Do not send the income-tax password in chat. Call +91 94454 38387.
On the old regime, house rent allowance is allowed as per calculation rules. On the new regime it is not allowed. The new regime is the default under section 115BAC. You choose before the return is filed.
The same table row also names LTA. Hostel allowance and LTA have separate conditions for exemption. This page does not state those conditions.
The HRA calculator says the exemption is the least of the three statutory conditions under section 10(13A). Basic on that calculator is basic salary plus dearness allowance.
Use rent paid, salary, and the metro or non-metro rule as a guide. The calculator is an estimate. HRA exemption needs rent receipts and the landlord PAN when required. The salary figures are read with Form 16.
Section 80C and section 80D are different rows. Home-loan interest is also a different row. This page does not state their limits.
After the return is filed, e-verify within 30 days. The return is quoted before it is filed. The first discussion is free.
No. The filing table says house rent allowance and LTA are not allowed on the new regime. On the old regime they are allowed as per calculation rules.
The calculator takes the least of three amounts under section 10(13A): actual HRA received, 50% of basic in the metro list or 40% of basic in the non-metro list, and rent paid minus 10% of basic. Basic on that calculator is basic salary plus dearness allowance.
No. Hostel allowance and LTA have separate conditions for exemption. This page does not state those conditions.
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