HRA Form for Salaried Employeees - Summary
House Rent Allowance (HRA) is one of the most commonly received allowances by salaried employees in India. If you are paying rent for your accommodation, whether to a landlord or even to your parents, you can claim tax exemption on the rent you pay. This means you could save money on your taxes!
Understanding HRA Benefits
If you are a government employee, you can take advantage of these benefits. The HRA facility is available only to those employees who receive HRA as part of their salary. School teachers can also fill out the HRA declaration form to claim their benefits.
How to Claim HRA Exemption
If you have submitted your rental agreement or rent receipts to your employer, the tax-exempt portion of the HRA you receive can be found in your Form 16. Depending on the conditions you meet for claiming HRA exemption, it is possible that the entire HRA received during the financial year could be exempt from tax, or only a part of it may qualify.
House Rent Allowance is an additional benefit provided by employers to support their employees who live in rented accommodations. If you are residing in a rented house and getting HRA as part of your salary, you can claim for full or partial HRA exemption according to Section 10 of the Income Tax Act.
Download the HRA Declaration Form PDF format online from the link given below. Don’t miss your chance to save!