Hi Fishes,
I will be joining KPMG global services and first time coming under tax slab.
Can anyone please share monthly payslip as I wanted to plan my rent according to HRA?
Also please share the Annual basic so that I can calculate my HRA accordingly.
Attaching my compensation plan.
Pleaaaaassssse helppppppppp.

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Dear,
Learn it, will help you a lot.

HRA for tax saving is calculated based on 3 points. And minimum value is taken as income tax exemption

1. Actual HRA which is 40 or 50 % of basic( 50% For 4 metro cities)
2. Actual rent paid.
3. Actual rent paid - 10% of basic.

So your basic is = 52038
1. 40% = 20185
2. Suppose your rent is 20K
Then actual rent =20k
3. Rent -10%of basic
20000 - 5203 =14797 is monthly exemption amount

And minimum of 1,2 & 3 is 14797
So your HRA exemption yearly amount will be 12 x 14797= 177564

So plan your rent based on this calculation

And if you are in metro city your HRA will be 50%

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