WebJun 21, 2024 · HRA (House Rent Allowance) is one of the most important allowances offered to salaried individuals which is present in a salary slip. If you are a salaried … WebFeb 5, 2012 · but generally no hra is being paid in case of pensioner so no question of exemption arises at all even house rent is being paid .but in this case also Deduction u/s …

Can a retired person get deduction for rent

WebFeb 12, 2024 · Salaried individuals can save tax by paying rent to their parents and availing the House Rent Allowance (HRA) exemption benefit. However, the property in which you … WebFeb 5, 2012 · but generally no hra is being paid in case of pensioner so no question of exemption arises at all even house rent is being paid .but in this case also Deduction u/s 80GG can be claimed detail is given hereunder NOW COMES TO MAIN POINT HOW YOU CAN CLAIM RENT EXEMPTION EVEN YOU ARE NOT RECEIVING HRA jay\u0027s treasure island wadsworth il

How you Can Claim HRA Exemption for the Rent Paid to Parents

WebHouse rent allowance (HRA) is a basic component of your salary. However, most of us are not familiar about the rules that can help us save tax on it. If you are a salaried employee living on rent, then here's how you can use HRA to reduce your tax liability. Calculation of tax-exempt HRA amount WebFeb 15, 2024 · As per Budget 2024, Salaried taxpayers are now eligible for standard deduction of Rs. 50,000/- under new tax regime also from Financial Year 2024-24. In this guide, let’s cover what salary deduction u/s 16 and other deductions are available on the pension income. WebJul 17, 2024 · House rent allowance (HRA) is received by the salaried class. A deduction is permissible under Section 10 (13A) of the Income Tax Act, in accordance with Rule 2A of the Income Tax Rules. You can claim exemption on your HRA under the Income Tax Act if you stay in a rented house and get a HRA from your employer. jay\\u0027s treaty ratified