HRA Exemption Calculator — Mumbai (Metro, 50% Rule)
Mumbai (metro, 50%): basic ₹8L, HRA received ₹4L, rent paid ₹4.2L. HRA exempt = min(₹4L, 50% of ₹8L = ₹4L, ₹4.2L − ₹80K = ₹3.4L) = ₹3.4 lakh. Taxable HRA: ₹60,000.
HRA Exempt (Tax-Free)
₹1,80,000
HRA Taxable
₹1,20,000
HRA exemption = minimum of: (1) HRA received, (2) 50%/40% of basic for metro/non-metro, (3) Rent paid minus 10% of basic. Only applicable under Old Tax Regime.
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