This Calculator calculates House Rent Allowance which is exempt from tax U/s. 10(13) of The Income Tax Act, 1961. The calculator is in excel format and it calculates the allowance which will be exempt from tax automatically.
It is to be noted that as per CIRCULAR NO. 8/2013, Dated: Dated: October 10, 2013 if annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee to report PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employee. Also Read-Claiming HRA – What to do if landlord do not have PAN?
Article was first published on 04.02.2013 and republised with amendments on 07.08.2015