Tax rebate for rental expenses
you can get tax rebate upto 40% of your basic pay for non-metro and 50% of basic pay. The income tax is also decided based on actual HRA allocated to your salary
for example if your basic is 20000 INR, then you will be eligible of 10000 INR per month can be deductable from your taxable income(not income tax). If you stay in non-metro, you will be eligible for 8000INR
regards
Bala
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