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Asked: 2024-07-18T10:00:20+00:00 In:

What is HRA in salary?

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What is HRA in salary?
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  1. Mayuri

    The acronym for House Rent Allowance is HRA. It’s a portion of your pay that your employer gives you to help with housing costs. Because it can lower your taxable income, it’s a big advantage.

    • On your payslip, the HRA amount is displayed separately.
    • Under some circumstances, you may be able to claim a tax exemption on a portion of your HRA.
    • The lowest of these three sums is often free from taxes:
      the real HRA that your company sent you.
    • Ten percent of your base pay less your dearness allowance (DA) and the actual rent paid.
    • In metro areas, 50% of your base pay plus DA; in non-metro areas, 40%.