Hey everyone !

Need help to understand this.

Components:
Basic: 10,00,000
HRA: 6,00,000

HRA excemption Calc:
1. Provided by Company: 6,00,000
2. 40% of Basic: 4,00,000
3. Rent - 10% of Basic: Rent- 1,00,000

For tax exception, min of these will be considered.

Ques: Can I claim my entire HRA exemption of 4,00,000 (as per option 2) by showing annual rent of 5,00,000 ?
P.S.- I am staying at home with my parents and I can transfer the rent to my parents.

Thanks in advance.

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As per my understanding you can do hra till 1 lakh without any pan card details - if the HRA is more than that then you need to submit your parent PAN

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You are right only minimum of the above will be exempted , if you are doing any jugaad do it properly , get a person with pan card keep a proper rental agreement and rent payment proof (not necessarily) if you have the above two

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If you transfer whole hra to your parents then they will pay tax for it...it's same thing

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Can we just say I paid in cash or do we need to actually pay our parents and file ITR if amount is more than 1 lac

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