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HRA and tax calculations
I am working in Cheenai. My CTC is Rs.10,90000. Of which my HRA monthly is 17000 and Basic is Rs 34,000. My monthly gross is Rs 79,000
I am staying in a house with my parents and brother. The house is co-owned by me and my brother.
My questions are:
1) Can I claim HRA by paying rent to my brother? We don’t have any house loan against it
2) If I cannot claim HRA, then how much tax will be deducted from my HRA component? ie Rs17,000 is HRA. Will I be not getting any HRA money if I cannot claim HRA?
3) As now you know my montly gross, can you give me my estimate take home salary, considering I make investment of 1 lac p.a
Anyone with suggestion?
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