House rent allowance is eligible for HRA deduction under Section 10(13A) of the Income Tax Act if an individual meets the following criteria: Eligibility Criteria To Claim Tax Deduction On HRA The calculation of HRA deduction depends on multiple factors such as:Ģ. You can claim a deduction for HRA under Section 10(13A) of the Income Tax Act but remember it can be fully or partially taxable. HRA or house rent allowance is a benefit provided by employers to their employees to help the latter cover their accommodation expenses or the cost of renting a house.
It is a part of the salary that employees receive over and above their basic pay for meeting accommodation expenses. HRA’s full form in salary slip stands for House rent allowance. Hence, organizations often compensate employees for this expenditure by paying them HRA. In such cases, they may end up paying rent for accommodation.
Many times, people have to move to a different city in order to work.
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