compensation
HRA
HRA or House Rent Allowance is a significant tax-saving salary component for Indian employees who live in rented accommodation. The exempt portion of HRA is the minimum of actual HRA received, rent paid minus 10% of basic salary, or 50% (metro) / 40% (non-metro) of basic salary. Employees must retain rent receipts and the landlord's PAN for claims exceeding specified limits.
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