HRA is a tax exemption and it is available only to the salaried individuals who opting for old tax regime. HRA is calculated based on the salary structure, salary amount, and city of residence. The actual amount which you can claim for deductions under HRA will be the lowest of the three provisions: The amount an employee receives as the ...
No, HRA is exempt from your income and not shown as a deduction under section 80C. HRA is difference from 80C lakhs and it comes under income tax section 10. Don’t consider your monthly rent as part of 80C – 1.5 lakhs. Do not confuse rent with investment. 80C encourages your investment, section 10 for your expenses. HRA is not ...