What is House Rent Allowance (HRA)?
Hero Housing Finance Ltd22 Oct, 2024Finance
House Rent Allowance is the allowance provided by your employer to cover accommodation costs when renting a house. When filing taxes, you can claim this allowance as an exemption under Section 10 (13A) of the Income Tax Act, 1961. However, according to tax rules specified under 2A, the exact HRA amount eligible for tax benefits may vary due to certain factors.
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