HRA Calculator Online
One helpful tool for figuring out how much House Rent Allowance (HRA) you can claim as a tax exemption under Section 10(13A) of the Income Tax Act is an HRA calculator. If you're a salaried individual living in rented accommodation, this tool can help reduce your taxable income legally.
By inputting your wage, the amount of rent you pay, and your place of residence, you may use the house rent allowance calculator to rapidly find the exempt amount of HRA. This is especially helpful during tax filing or while planning your finances.
Whether you're a first-time filer or a working professional trying to calculate HRA deduction, the calculator is designed to give accurate and instant results without manual effort. It takes into account all necessary factors including dearness allowance (if applicable), basic salary, rent paid, and whether you live in a metro or non-metro city.
Using the calculate HRA online tool is the simplest way to know HRA exemption eligibility.
How Does the HRA Calculator Work?
The online HRA exemption calculator uses the lowest of the following three to determine the exempt component:
Actual HRA received
50% of basic salary (for metro cities) or 40% (for non-metros)
Rent paid minus 10% of basic salary
Input the relevant salary details and rent figures to find out your exempt and taxable HRA.