Therefore, one must first compute HRA on base wage to take advantage of the HRA exemption for yearly tax payments. how to calculate hra in excel formula . The HRA Calculator A home rent limit calculator is a financial tool that helps one determine the amount of tax deduction that one is eligible to receive annually on their rent by the Income The house rent allowance exemption calculator will help determine how much tax you need to pay in a financial year. HRA slabs also depend on the city you stay in. For example, if you stay in Calcutta, Ahmedabad, Mumbai, New Delhi or Chennai, the HRA allowance may go up to 27%. The figure may go down to 18% and 9% for the tier-2 and tier-3 cities. Actual HRA allowance offered by the employer = INR 12,000; or. 50% of the basic salary = 50% of INR 25,000 = Rs. 12,500. As per the above calculations, the calculation made in the first category is the least amount to be deducted. That is the actual rent paid minus 10% of the basic salary. 1) Once you open MS Excel, create a file name and save it in a location from where you can access it easily. 2) Open a new Excel Sheet and write your company name, company address, month & year of the salary slip within the first three rows. 3) Make two columns and enter the general details of the employee like Name, designation, ID, Department Gross Salary: The final salary computed after the additions of DA, HRA and other allowances. The formula for Gross Salary is defined as below: Gross Salary = Basic + HRA + DA + Allow – PF. Here, HRA = 20% of Basic. DA = 50% of basic. Allow = 1700 if grade = ‘A’. Allow = 1500 if grade = ‘B’. Allow = 1300 if grade = ‘C’. You can see that we create all the required columns with the formula of finding the salary details. Employee Table: When put any value to salary then it calculate automatically all the details. You can see in below Image when we insert the row and add the value into salary column it automatically insert the data into corresponding fields. HRA Calculator: No.1 User-Friendly House Rent Allowance Tool. Consult an Expert. Get accurate HRA calculation results in seconds with our easy-to-use HRA Calculator! Simplify your Hra exemption taxes and save time today & High search results guaranteed! Actual House Rent Allowance received ; Actual rent paid less 10% of salary ; 50% of the salary in case of metro city/ 40% in case of a non-metro city (Here Salary includes – Basic Salary + Dearness Allowance) The House Rent Allowance calculation formula has been explained below with the help of an example: Let’s understand with an example: .

hra calculation formula in excel