The amount of HRA that is taxable is calculated as the lowest of the following three amounts: In general, HRA is taxable if the individual receives it as part of their salary, and it is not exempt from tax under any provisions of the Income Tax Act.
The taxability of HRA depends on several factors, including the individual’s salary, the location of the rented residence, and the amount of HRA received. House Rent Allowance (HRA) is a component of an individual’s salary that is paid by an employer to help cover the cost of renting a residence. Click on the link to access the Taxability of House Rent Allowance form in PDF format.
The PDF for the House Rent form can be downloaded by following the link provided at the bottom of the article. Income Tax: House Rent Receipt PDF Format Download
