Discover the Ultimate HRA Calculator Online

Simplify Your Tax Savings with the Best HRA Calculator

Are you looking for a hassle-free way to calculate your House Rent Allowance (HRA) and maximize your tax savings? Look no further! Our HRA Calculator Online is designed to provide you with an accurate and user-friendly experience, ensuring that you can effortlessly determine your HRA exemptions and make informed financial decisions.

HRA Calculator

Do you live in Delhi, Mumbai, Kolkata or Chennai ?

  Yes     No
Basic Salary (PA) :
Dearness Allowance (PA) :
HRA Received (PA) :
Total Rent Paid (PA) :

HRA Chargable to TAX:

Total Exempted HRA : 50% of basic salary : HRA Received : Rent Paid - (Less 10% of basic) :

House Rent Allowance Calculator Online

House Rent Allowance or HRA is a salary component paid to employees by an employer towards the accommodation cost of living in that city. Even though it is a part of your salary, unlike your basic pay, HRA isn’t entirely taxable, subject to conditions (a percentage of HRA is exempted under Section 10 (13A) of the IT Act, 1961).

The new regime has witnessed a lot of changes when compared to the old regime. However, one of the biggest changes that are to be pointed out is the fact that the new regime will not have some of the exemptions or deductions from the last tax regime. These include the House Rent Allowance or HRA as well. Thus, if you opt for the new tax regime and file your taxes accordingly, you will not be able to enjoy the deduction for HRA.

The salary or pay for individuals can be defined as the sum of their basic salary, DA (dearness allowance), and any/all other commissions as applicable. HRA deduction calculation for employees residing in a metro will be 50% of the basic salary and is 40% for residence in a non-metro city. In case of salaried individuals without a DA component or commissions in their remuneration, the HRA allowance will be 40 or 50% of their basic pay.

Why Use the HRA Calculator Online?

  1. Accurate Calculations: Ensure precise HRA calculations tailored to your salary structure and city of residence.
  2. User-Friendly Interface: Navigate the calculator with ease, thanks to its intuitive design.
  3. Time-Saving: Quickly compute your HRA without the hassle of manual calculations.

Key Features of the HRA Calculator Online

  • Detailed Breakdown: Get a comprehensive breakdown of your HRA, including exempt and taxable amounts.
  • Customizable Inputs: Input various parameters such as basic salary, DA, HRA received, and actual rent paid.
  • City-Based Calculations: Factor in different HRA exemptions for metro and non-metro cities.
  • Instant Results: Receive immediate calculations to help you plan your finances better.
  • Tax Planning Tips: Gain insights into how you can optimize your HRA claims and save on taxes.

How to Use the HRA Calculator Online

Using the HRA Calculator Online is simple and straightforward. Follow these steps to calculate your HRA:

  1. Enter Your Basic Salary: Input your monthly basic salary.
  2. Input HRA Received: Enter the HRA amount you receive from your employer.
  3. Specify Rent Paid: Input the actual rent paid for your residence.
  4. Select Your City: Choose whether you live in a metro or non-metro city.
  5. Calculate: Click on the ‘Calculate’ button to get an instant breakdown of your HRA exemption.

Benefits of Using the HRA Calculator Online

  • Maximize Tax Savings: Understand how much of your HRA is exempt from taxes and plan accordingly.
  • Financial Planning: Use the detailed insights to make better financial decisions regarding your housing expenses.
  • Compliance: Ensure that your HRA calculations are compliant with the latest tax laws and regulations.

Special Offers and Discounts

Take advantage of our special offers and discounts to make the most of the HRA Calculator Online:

  • Limited-Time Offer: Use promo code HRA20 to get a 20% discount on your subscription.
  • Free Trial: Sign up today for a 7-day free trial and experience the benefits of accurate HRA calculations.
  • Bundle Deals: Combine your HRA Calculator Online subscription with other financial tools and save up to 30%.

Customer Testimonials

Here’s what our satisfied users have to say about the HRA Calculator Online:

“The HRA Calculator Online made my tax planning so much easier. The detailed breakdown helped me understand my exemptions clearly.” – Ramesh S.
“As an employer, this tool has been invaluable in providing accurate HRA calculations for my employees.” – Priya M.
“I saved a significant amount on taxes thanks to the insights from the HRA Calculator Online. Highly recommend!” – Ankit K.

Start Maximizing Your Tax Savings Today!

Explore the benefits of our HRA Calculator Online and take control of your financial planning. Visit Neu Deals now to start your free trial and unlock exclusive savings with our special offers and promo codes.

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FAQs

Can I claim HRA exemption if I have not submitted rent receipts?

Yes, you can claim HRA exemption by lowering your taxable income at the time of filing your return. However, you must calculate exempt HRA using calculator and subtract the same from your taxable income.

How can I claim exempt HRA?

As an employee, you must submit Form-12BB investment declaration to your Employer to claim an exemption on HRA. You must also submit rent receipts signed by your landlord as a supporting document.

How to calculate exempt HRA?

Enter the following details to calculate your HRA exempt from income tax: 1. Basic Salary 2. Rent Paid 3. HRA (House Rent Allowance) received 4. Select if you are living in a metro city or not

Which are the metro cities considered to calculate HRA?

Calculation of exempt HRA may differ based on if the taxpayer is living in a metro city or not. The metropolitan cities for HRA calculation are Delhi, Mumbai, Chennai, Kolkata.

What are the conditions to calculate HRA exempt from Income Tax?

To calculate the exempt HRA, the lower of the following amount will be considered: 1. Actual HRA received 2. 50% of the basic salary 3. Excess rent paid over 10% of the annual salary

Where can I find salary details to use HRA calculator?

To use HRA calculator you need details like basic salary, dearness allowance, HRA received. You can find these salary details in your salary slips or Form 16 for that financial year.

Can I claim HRA exemption under the New Income Tax Regime?

From FY 2020-21 onward, employees opting for New Tax Regime can not claim an exemption on HRA. HRA Exemption is only available if an employee opts for the Old Tax Regime. Check which Income Tax Regime is better for you using Income Tax Calculator.

What is the formula for HRA calculation?

To calculate HRA, the lower of the following is used: 1. Actual HRA 2. 50% of the basic salary 3. Excess rent paid over 10% of the annual salary