Instant HRA exemption calculation under Section 10(13A), with the exact three-way comparison your employer uses — and what switching to the new regime would cost you.
Under Section 10(13A), the tax-free portion of HRA is the least of: (1) actual HRA received, (2) rent paid minus 10% of basic salary + DA, and (3) 50% of basic + DA in a metro city or 40% elsewhere. The rest of your HRA is taxable.
Only Delhi, Mumbai, Kolkata and Chennai qualify for the 50% limit. Bengaluru, Hyderabad, Pune, Gurgaon, Noida and all other cities use 40% — a common and costly mistake.
No. The new regime removes the HRA exemption entirely. Whether the old regime still wins for you depends on your total deductions (HRA + 80C + health insurance etc.) versus the new regime's lower slab rates.
Rent receipts signed by your landlord (generate them free at rent.klair.in), your rent agreement, and the landlord's PAN if annual rent exceeds ₹1,00,000.
Yes, if you genuinely pay them rent (bank transfer strongly recommended) and they declare it as income. You'll still need receipts and, above ₹1 lakh/year, their PAN.