HRA Calculator
Basic salary (p.a)
₹
Dearness allowance (p.a)
₹
HRA received (p.a)
₹
Total rent paid (p.a)
₹
Are you working in a metro city?
Exempted HRA
₹100000
Taxable HRA
₹0
Invest in ELSS Mutual funds and save tax upto ₹46,800 under 80C as per old tax regime.
What is an HRA Calculator?
The cost of living in most Indian cities has risen significantly in the previous decade or so. This is attributable in part to an increase in disposable income, as well as inflation. Many organizations provide a House Rent Allowance, or HRA, to employees who live in rented housing as mandated by the government. Now by using the HRA calculator, you can figure out how much allowance you will receive depending upon your salary.
The HRA slabs in India have been significantly altered as a result of the 7th Pay Commission's recommendations. Cities are currently divided into three separate slabs. Slab X has the most urban cities where an HRA exemption calculator is plainly required. Slab Y includes cities with a low cost of living.
Benefits of using an HRA calculator
- The calculator is error free, and you use it unlimitedly.
- As you get tax benefits from HRA, you can use it for your advantage.
- Finally, the calculator handles all of the variables that are present in the HRA computation.
How to calculate HRA tax exemption in India
HRA is calculated using numerous factors. However, the amount of HRA tax exemption that you can claim is the lowest of the three provisions listed below:
- Your employer's contribution to your HRA.
- If you live in a metropolis, you will receive 50% of your basic salary; if you live in a non-metropolis, you will receive 40% of your basic salary.
- Your actual rent minus 10% of your basic salary
