How much HRA can I claim in non metro?
How much HRA can I claim in non metro?
40% of the basic salary is calculated as HRA for people living in non-metro cities while the same is 50% for employees in metro cities like Mumbai or Chennai.
How is non metro HRA calculated?
How is Exemption on HRA calculated ?
- Actual HRA received from employer.
- For those living in metro cities: 50% of (Basic salary + Dearness allowance) For those living in non-metro cities: 40% of (Basic salary + Dearness allowance)
- Actual rent paid minus 10% of (Basic salary + Dearness allowance)
What is metro and non metro in HRA?
Actual HRA paid by the employer. 50% of salary for a metro city, and 40% of salary (Basic + DA) in case of a non-metro city. As per Income Tax provisions, only Delhi, Mumbai, Chennai and Kolkata are considered as metro cities in India. Rent paid in excess of 10% of salary (Basic + DA)
What is applicable HRA for metro cities?
HRA received from your employer. Actual rent paid minus 10% of salary. 50% of basic salary for those living in metro cities. 40% of basic salary for those living in non-metro cities.
What kind of housing can you rent in Metro HRA?
Families may rent any type of housing in the Metro HRA service area. The Metropolitan Council established the Family Affordable Housing Program (FAHP) to serve families with low incomes. The FAHP was designed, in part, to help implement the 1995 Hollman Consent Decree.
Where can I find the Metro HRA phone number?
HRA Phone Numbers Applications and Wait List – 651.602.1880 General Questions/Information – 651.602.1428 General Inspection Line – 651.602.1688 Re-Inspection Request Line – 651.602.1688 Metro HRA Fax – 651.602.1313 Metro HRA TTY – 651.602.0904
Where are the Metro HRA programs in Minnesota?
The Metro HRA offers the program in communities throughout Anoka, Carver, and most of suburban Hennepin and Ramsey Counties. See a map and list of Metro HRA participating communities (pdf).
What happens if your HRA does not change?
In the event of Basic salary or HRA not changing, but the rent amount changing or the location of the residence changing (say, from metro to non-metro), there will still be differences in HRA exemption calculation across the 3 methods.