Work out exactly how much of your House Rent Allowance is tax-exempt under the old regime — the lowest of actual HRA, rent paid minus 10% of basic, and the metro cap.
Estimates only — not professional tax advice. Actual liability may vary based on your specific circumstances. Talk to a CA before filing.
No. HRA exemption under Section 10(13A) is only available under the old tax regime. If you choose the new regime, your full HRA is taxable.
Delhi, Mumbai, Kolkata, and Chennai. All other cities use the 40% of basic salary cap instead of 50%.
Yes. Keep rent receipts and, if annual rent exceeds ₹1,00,000, your landlord's PAN. Your employer will typically ask for these before reflecting the exemption in Form-16.
Yes, as long as the arrangement is genuine — a rent agreement, actual rent payments (ideally via bank transfer), and your parent declaring the rent as income.