Glossary
HRA (House Rent Allowance)
A salary component that can be partly tax-exempt if you pay rent.
HRA exemption is the lowest of three formula values tied to your salary, rent paid, and city. It applies under the old regime, so keep rent receipts and, where required, the landlord's PAN to claim it.
Related guides
More glossary terms
DeductibleCo-payment (Co-pay)IDV (Insured Declared Value)No Claim Bonus (NCB)Claim Settlement Ratio (CSR)Incurred Claim Ratio (ICR)
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