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What is House Rent Allowance (HRA) and how it is calculated?

HRA

This is an allowance being provided by the company (Employer) to the staffs (Employee) for the purpose of accommodating the house on rent. This is a proportionate part of the annual salary. The HRA tax benefits are only applicable to those who stay in a rented house. To claim HRA: Below criteria’s must be full […]

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Know the home loan income tax slabs

Home loan income tax slabs

A. Under section 80 EE: Claim benefits up to Rs 50,000 deducted on Interest paid in the financial year subject to following eligibility guidelines. • For the 1st house, only • The loan availed within Rs 35 lakhs • Value of the house must be within Rs 50 lakhs • Not eligible for commercial property […]

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