HRA Calculator in Excel Download | House Rent Allowance Exemption (Hindi)

Описание: HRA Calculator in Excel Download | House Rent Allowance Exemption (Hindi)
In this video by FinCalC TV we will see making of HRA calculator in excel with download option in hindi. HRA or house rent allowance can be claimed to save income tax if you stay on rent and receive HRA component in salary payslip.
Even you you don't receive HRA in payslip, you can claim house rent under Section 80GG. You can also pay rent to parents to claim HRA and save income tax.

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HRA Calculator:
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Download HRA Calculator in Excel:
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Section 80GG Explained:
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CHAPTERS:
00:00 HRA Calculator in Excel Intro
00:27 HRA Calculations Formula
01:15 What is HRA is not present in payslip?
01:29 Pay rent to parents and claim HRA
02:13 Defining Labels in Excel Calculator
05:21 Entering Basic Salary Data from Payslip
05:56 Providing House Rent Data
06:38 Entering HRA Received Data from Payslip
06:57 House Rent minus 10% Basic Formula
09:17 Metro vs non metro city HRA Formula
13:17 Finding minimum amount for HRA Exemption
14:51 Total HRA Exemption Calculation
15:33 Using HRA Calculator on FinCalC Blog
18:42 HRA Calculator in Excel Conclusion

WHAT IS HRA?
HRA full form is House Rent Allowance
If you are salaried employee, you must be receiving HRA component. You can confirm this from your Salary slip of any month
HRA is provided to you so that it helps you pay your rent if you stay in rented accommodation
Not all of us stay on rent, so this HRA amount becomes taxable if you do not stay on rent
But, if you stay on rent, you can claim HRA exemption to reduce your taxable income which will help save your Income Tax
There are certain rules you need to follow along with HRA calculation formula you must use to calculate HRA exemption, because not entire HRA amount can be exempted from taxable income

HRA EXEMPTION CALCULATOR ONLINE
The above HRA Exemption Calculator for Salaried Employees helps you calculate the HRA amount you can claim to save Income Tax. But here are few points you should consider:

The HRA calculator would give you accurate results when you provide correct information of your Basic + DA components of your salary, HRA amount received and the rent paid by you, all figures on yearly basis
It does not take into account the change in basic salary or rent components in between the financial year
If you live in metro city then 50% of basic salary will be considered else 40% will be considered in non-metro city to calculate your HRA exemption amount
This HRA calculator gives you a rough idea about the approximate amount you can claim as HRA exemption to save Income Tax.

Conclusion:
HRA Exemption Calculator for Salaried Employees can be used to know your HRA Exemption limit.

You can claim HRA (House Rent Allowance) in order to save income tax under Section 10. If you don’t receive the HRA component in your salary, you can claim maximum of Rs. 5000 pm (Rs. 60,000 in a year) under Section 80GG.

The calculations for HRA exemption limit allowed will be based on minimum of below 3 formulas:

Actual HRA received in a financial year
Rent paid – 10% of Basic Salary + DA
40% of Basic Salary + DA in non metro city or 50% in metro city
Minimum number from above 3 calculations will be considered as exemption limit which will be deducted from your gross income to save income tax with Old Tax regime.

In case you switch jobs or your salary is increased due to promotions or bonuses in same financial year, you can calculate HRA exemption based on updated salary amounts. Watch this video on HRA calculation on different salary with examples to understand this scenario.

#HRA #HouseRentAllowance #HRAExcel #fincalc

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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.