Don’t Miss This Powerful Deduction
If you’re a salaried employee or self-employed professional paying rent, you could be eligible for HRA deduction—one of the most underutilized tax-saving tools in India.
And with the July 31, 2025 deadline nearing, now is the time to claim what’s yours.
Let’s break it down.
🏠 What is House Rent Allowance (HRA)?
HRA is a component of your salary given by employers to help cover rental expenses. It’s partially or fully tax-exempt under Section 10(13A) of the Income Tax Act.
But to claim it, you must:
Pay rent
Not own the property you live in
Choose the Old Tax Regime (HRA not allowed in the New Regime)
📊 How is HRA Deduction Calculated?
HRA exemption is least of the following three:
Actual HRA received
50% of salary (metro cities) / 40% (non-metros)
Rent paid minus 10% of salary (basic + DA)
💡 Use Vizzve’s HRA Calculator to get your eligible amount in seconds.
📑 Documents Required to Claim HRA
✅ Rent receipts (monthly or annual)
✅ PAN of landlord (if rent > ₹1 lakh/year)
✅ Lease/rent agreement
✅ Employer’s Form 16 (HRA component breakdown)
📌 No PAN from landlord? Get a declaration instead—Vizzve provides easy templates.
🏙️ Metro vs Non-Metro Example
Let’s say:
Basic Salary: ₹50,000/month
HRA received: ₹20,000/month
Rent paid: ₹18,000/month
Location: Chennai (metro)
Eligible HRA exemption (FY 2024–25):
~₹1,80,000/year — potentially saving ₹25,000+ in tax!
💼 Self-Employed? You Can Still Claim Rent!
You can’t claim HRA, but under Section 80GG, self-employed and non-HRA earners can claim rent paid up to ₹5,000/month or ₹60,000/year.
✅ Just ensure you’re not claiming HRA or owning any residential property.
🧠 FAQs – HRA and ITR Filing
Q1: Can I claim HRA if I’m living with parents?
A: Yes—if you pay them rent and have proper receipts. Vizzve helps you structure this legally.
Q2: Is HRA applicable under the new tax regime?
A: No. HRA can only be claimed if you opt for the Old Regime.
Q3: What if I forgot to submit rent receipts to HR?
A: You can still claim HRA while filing ITR—but may face scrutiny. Upload rent proofs with your return.
🚀 How Vizzve Makes This Easy
With Vizzve’s HRA Tools:
Calculate your exact HRA benefit
Generate rent receipt templates
Track missed claims from Form 16
Auto-compare Old vs New Regime with HRA impact
🕒 Beat the ITR deadline — Maximize your refund with smart tax filing tools from Vizzve.
📲 Start at Vizzve.com — and never miss a deduction again.
Published on : 21st July
Published by : SMITA
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