If you should be an individual that is salaried it is possible to claim House Rent Allowance (HRA) to meet up your rented accommodation-related costs. Salaried individuals whom reside in a rented home can claim this exemption and bring their taxes down.HRA may be completely or partially exempt from taxation. Our HRA exemption calculator will allow you to calculate just just what part of the HRA you will get from your own employer is exempt from taxation and just how much is taxable.
If you do not are now living in a rented accommodation but nevertheless get home rent allowance, the allowance will likely to be completely taxable. (more…)