House Rent Allowance (HRA) is exempted under section 10(13A) of the Income Tax Act.Īlso Read – How to download LIC premium Receipts Online House Rent Allowance rules and regulations Self-employed and salaried people can claim HRA exemption, though under a different section of Income-tax as explained in the article. The rent can be partially or fully tax exempt. House Rent Allowance means, if you are a salaried person and staying in a rented accommodation, then you can claim tax exemption for the rent paid. Then how to calculate the tax-free portion of House Rent Allowance (HRA) in your salary? It is paid to compensate the employee for the rent he is paying in the absence of a company quarter.So is “House Rent Allowance (HRA)” a taxable income for you? The answer is ‘yes’ and ‘no’ because a portion of House Rent Allowance (HRA) is tax-free for you. If you go through the break-up of your CTC statement, you will find a term HRA, which stands for House Rent Allowance.
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