ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • What should investors do with Bajaj Auto Buyback? Anil Singhvi suggests this
  • JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half
  • Dalal Street Corner: Easing commodity prices, buying interest in IT, Metal help market extend gains; what should investors do on
  • PM Modi meets Joe Biden, Emmanuel Macron and Justin Trudeau at G7 Summit
  • Mahindra Scorpio-N 2022: Finally, New Scorpio is here - Price, Booking Open Date, Delivery Date, Variants, Features and more
Read in App
Business News » Personal Finance News

How to save Income Tax: HRA calculation made easy with this tool - Get answers of all your queries

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
How to save Income Tax: HRA calculation made easy with this tool - Get answers of all your queries
This calculator by Indian government's Income Tax department enables calculation of taxable and exempt portion of HRA. Image: Income Tax and Reuters

Income Tax Calculator: The current Financial Year is about to end in a month. With this, most of the salaried individuals are also concerned about how to save income tax. If you see your salary slip, you will find a major portion of your salary is categorised under House Rent Allowance (HRA). Many salaried individuals want to know about what portion of their HRA is taxable and exempted as per the laws of Income Tax department. 

Income Tax Calculator: HRA taxability and exemption

House Rent Allowance received by an employee/salaried individual is taxable. House Rent Allowance received by an employee/salaried individual is taxable. However, exemption is available under section 10(13A). 

This Income Tax HRA calculator by Indian government's Income Tax department enables calculation of both taxable and exempt portion of HRA. Here is how to access it and how to calculate HRA taxability and exemption.

Income Tax, HRA Calculator: Check step-by-step guide:-

1- Log on to https://www.incometaxindia.gov.in/Pages/tools/house-rent-allowance-calculator.aspx

2- Enter Basic Salary

3- Enter DA forming part of salary

4- Enter Commission (as % of turnover achieved by the employee)

5- Enter HRA Received

6- Enter Rent Paid

7- Put Tick if residing in metro city 

It's done! You will get Exempted House Rent Allowance and Taxable House Rent Allowance. (See image for better understanding)

Income Tax Calculator: HRA's taxability and exemption

Income Tax Calculator: Advisory and disclaimer

It is important to note that with this HRA calculator, Income Tax Department has given an advisory too. It reads, "Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document."

Moreover, there is a disclaimer by Income Tax Department. It says, "The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Income taxHRAHouse Rent AllowanceINCOME TAX CALCULATOR
Written By: Prashant Singh
Updated: Wed, Feb 20, 2019
01:56 pm
ZeeBiz WebDesk
RELATED NEWS
Advance Corporate tax collection rose by 45% YoY basis, net collection grow by 52% Advance Corporate tax collection rose by 45% YoY basis, net collection grow by 52%
Budget 2022: Finance Ministry to clarify doubts on applicability of TDS on perks received in business, profession; new rule effective from 1 July Budget 2022: Finance Ministry to clarify doubts on applicability of TDS on perks received in business, profession; new rule effective from 1 July
Wealth Guide: Akshaya Tritiya Special - Planning to invest in gold? Know these taxation rules of Physical Gold, Sovereign Gold Bonds and more Wealth Guide: Akshaya Tritiya Special - Planning to invest in gold? Know these taxation rules of Physical Gold, Sovereign Gold Bonds and more
GST: How to generate e-invoice? Step-by-step guide from expert - Mandatory from Apr 1, 2022 for businesses with turnover of over Rs 20 crore GST: How to generate e-invoice? Step-by-step guide from expert - Mandatory from Apr 1, 2022 for businesses with turnover of over Rs 20 crore
Income Tax: Refunds worth Rs 1.93 lakh cr issued to over 2.26 crore taxpayers Income Tax: Refunds worth Rs 1.93 lakh cr issued to over 2.26 crore taxpayers

LATEST NEWS

Rupee Vs Dollar: Rupee ends almost flat at 78.34 against US dollar

What should investors do with Bajaj Auto Buyback? Anil Singhvi suggests this

Gold price outlook: Why yellow metal may trade volatile this week? Know key buy zone, sell zone here

Gold price jumps Rs 302 in national capital

How Apple iPhone users can save passwords in Google Chrome

Realme C30 India sale begins; Price starts at Rs 7,499 - Check availability and specifications

Dalal Street Corner: Easing commodity prices, buying interest in IT, Metal help market extend gains; what should investors do on Tuesday?

Where is Elon Musk as America faces biggest issues of its times

Zomato Blinkit deal: What does acquisition announcement means for stock price, investors? Brokerages divided, check target prices

Poco F4 5G India sale - Check price, bank offers, specifications and availability

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV