How to get the hra deduction calculation for income tax ?

Introduction The House Rent Allowance (HRA) is a significant component of the salary package for many individuals. If you are a salaried individual and receive an HRA, you can claim a deduction for the HRA component of your salary under Section 10(13A) of the Income Tax Act. In this article, we will discuss how to calculate HRA deduction for income tax purposes. To calculate the HRA deduction, you need to know the following information: Actual rent paid: This is the amount of rent you pay for your accommodation. It is important to note that you can claim HRA deduction only […]