HRA (House Rent Allowance) Calculator is an online tool used to determine the House Rent Allowance that an individual can claim as a part of their salary package. HRA is a component of the salary provided by employers to employees to cover their rental accommodation expenses.

The HRA amount that can be claimed is based on various factors, including the actual rent paid by the employee, the city of residence, and the salary structure. The HRA Calculator online takes into account these factors to calculate the exempt portion of HRA, which is not subject to income tax.

Here are the key components considered in the calculation:

Actual Rent Paid: The total rent paid by the employee for the accommodation.

Basic Salary: A percentage of the basic salary is considered for the HRA calculation.

HRA Received: The actual HRA received by the employee from the employer.

City of Residence: The HRA calculation varies based on whether the employee resides in a metro city or a non-metro city.

The formula for calculating HRA exemption is the minimum of the following three amounts:

Actual HRA Received
50% of Basic Salary (for metro cities) or 40% of Basic Salary (for non-metro cities)
Excess of Rent Paid over 10% of Basic Salary
Employees can use the HRA Calculator online to efficiently determine the HRA exemption and optimize their tax liabilities. It is important to note that individuals must provide accurate details for the calculation to be reliable.

HRA Calculator : https://www.investkraft.com/fi....nancial-tools-calcul

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