Ch 2 · Income from Salary (Sec 15-17)

🧮 Formula sheet

1. 1.HRA Exempt = Min of: (a) Actual HRA, (b) 50%/40% of Salary, (c) Rent − 10% of Salary
2. 2.Gratuity Exempt (non-govt covered by Act) = Min(₹20L, actual, 15/26 × last salary × yrs)
3. 3.Rent-free Unfurnished (govt) = Licence fee; Non-govt = 10%/7.5%/15% of salary basis population