What is House Rent Allowance (HRA)? – Exemption, Deduction & Calculation
House Rent Allowance (HRA) helps salaried employees reduce taxable income by offering exemptions on rent payments. The exemption is calculated based on actual rent, HRA received, and a percentage of salary. Self-employed individuals can use Section 80GG for rent deductions. Proper documentation is essential for claiming HRA benefits.