What is HRA (House rent allowance)?
HRA stands for house rent allowance which is the payable amount along with salary by the employee to the employee. In simple words, HRA is the amount to meet the expenditure of an employee’s accommodation. The house rent allowance varies based on the salary of the employee and the place of living. An employee of both sectors public and private has a deductible house rent allowance included in their salary. Anyone can easily determine his/her HRA based on his/her salary and city.
What is a house rent calculator?
An HRA calculator is a simple utility tool that helps individuals to calculate the HRA deduction. It simplifies the calculation to claim the tax deduction in seconds. Any salaried individual can get the taxable amount by computing the house rent allowance with the help of the HRA calculator. You can use the myitronline calculator to determine the received amount as house rent allowance. The House rent allowance calculator needs the following input to show you the accurate result which includes basic salary, dearness allowance, total rent paid, city of residence, and HRA received.
How to use myitronline calculator?
Myitronline HRA calculator comes with an easy to use interface that anyone can easily get his/her tax deduction amount by simply putting the values. Our HRA calculator provides accurate results. Salaried individuals can have the estimations of HRA exemption in the following steps.
- Firstly, You need to search myitronline.com in your search engine. You will be redirected to the home page of our website.
- Go to the bottom of the section of myitronline tools, you will see the HRA calculator there.
- Click on that and you are just there. Put the required details asked in the HRA calculator, for instance, basic salary, dearness allowances, HRA received, and total rent paid( Per Annum).
Click on the 'Calculate Now” button, the HRA calculator will show you the HRA exemption along with taxable house rent allowance
What are the advantages of the myitronline HRA calculator?
There are numerous benefits of using a House rent allowance calculator such as the house rent calculator saving your precious time and energy. This is easy and free to use. you just have to fill in the basic details such as dearness allowance, total rent paid, HRA received, and basic salary. The calculation done by myitronline calculator is accurate to help the individuals. This calculator is easily available for you and can be used at any time without getting out of your comfort zone. Individuals do not need to worry about manual calculations that consume so much time and effort. An HRA calculator saves your precious time and energy with its fast and accurate computing ability.