Calculate HRA exemption under Section 10(13A)
HRA Calculator is a comprehensive financial calculator designed to help you calculate hra exemption under section 10(13a). Planning finances requires absolute precision; this calculator provides instant accurate projections for EMIs, compounding, loans, and investment portfolio returns.
The exempt HRA is the lowest of: actual HRA received, 50% of basic salary for metro cities (40% for non-metro), and rent paid minus 10% of basic salary. Example: basic ₹50,000, HRA ₹25,000, rent ₹20,000 in a metro. The three amounts are ₹25,000, ₹25,000 and ₹15,000 per month, so ₹15,000 is exempt and ₹10,000 is taxable.
This calculator treats Delhi, Mumbai, Kolkata and Chennai as metro cities, which qualify for the 50% limit. Other cities use 40%. City classifications for HRA are set by the tax rules and may be revised, so confirm the current list with the Income Tax Department or your employer.
No. The Section 10(13A) HRA exemption is generally available only under the old tax regime. Under the new regime, the HRA you receive is fully taxable. This calculator shows only the old regime exemption, so compare regimes before deciding which one to choose for the year.
Usually rent receipts or a rent agreement, your landlord's name and address, and the landlord's PAN if annual rent exceeds ₹1 lakh. Employers set their own proof deadlines, so submit the documents to your payroll team. You can also claim it while filing your return, if it was not claimed through your employer.
Enter your monthly basic salary. If your pay includes dearness allowance that forms part of retirement benefits, it is generally included in salary for this purpose, so check your payslip and tax rules. This calculator uses the basic figure you type, so it does not add other allowances or bonuses.
Generally yes, if you actually pay rent to them, they own the house and they declare the rent as income in their tax return. You should keep proof of payment, such as bank transfers, and a rent agreement. Rules and scrutiny vary, so consult a tax professional for your situation.
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A reducing interest rate means interest is charged only on the remaining outstanding principal balance at the end of each period, rather than the initial loan amount.