My HRA is 540000 but the rent I paid is 96000 so my Amount of Exempted HRA comes out only 6000 INR. Can I do something about it?
As per the law, the amount of Exempt HRA will be the least of the following amounts:
- Actual House Rent Allowance received
- Actual rent paid less than 10% of salary
- 50% of salary if you live in a metro city/ 40% in case of a non-metro city
(Here Salary includes – Basic Salary + Dearness Allowance)
You can calculate the claim amount as applicable to you.
When I did that calculation only, it came 6000 INR coming under the 2nd point “Actual rent paid less than 10% of salary”, is there no way else I could get more exemption for it?
No. As per law, it is so.