We have already talked about what house rent allowance (HRA) is and how it can help you save money on rent as well as via tax return. Thanks to Section 10(13A), those who are salaried employees and are living in a rented accommodation an avail this exemption and save on money that they pay as rent on a monthly basis. Even those who are not salaried or are self-employed can the benefits of house rent allowance under section 80CG, which is a similar law to 10(13A) but has certain conditions that have to be fulfilled. HRA exemption can be claimed for: 1. A set amount of HRA as received from the employer 2. Actual rent paid which is in excess of 10 per cent annual salary 3. 50 per cent of basic pay if you live in metro cities and 40 per cent at non-metro cities Under the term ‘salary’ for which HRA exemption can be claimed, these can be included: 1. Basic salary 2. Dearness all...