If you receive HRA from your company as part of your salary the exemption for HRA benefit is calculated u/s 10(13A) as the minimum of (i) Actual HRA received (ii)50% of salary (if living in metro cities), or 40% for non-metro cities; and (iii) Excess of rent paid annually over 10% of annual salary. Help me calculate my House Rent Allowance
Once you have added your salary details on Quicko, it will automatically claim the HRA for you.
Here's how you can add salary details on Quicko.
If HRA is not a component in your salary it can be claimed under section 80GG. It is calculated as least of: (i) Rent paid less 10% of your total income (ii) Rs. 5000/- per month (iii) 25% of total income
Steps to add Deduction u/s80GG
- Navigate to Tax Breaks
- Click on the Other Deductions card
- Click on 80GG and claim the eligible HRA