Claiming HRA tax exemption against rent paid? Here's all you need to know
Updated : January 26, 2021 06:12 PM IST
Salaried individuals, who live in rented houses can claim the House Rent Allowance (HRA) to lower their taxes – partially or wholly, according to Section 10(13A) of the Income Tax (I-T) act.
For claiming tax exemption on HRA, individuals are required to submit proofs of rent paid to their employer or alternatively claim it while filing an income tax return (ITR).
Published : January 19, 2021 04:05 PM IST