Tax Planning | FY 2025-26 & FY 2026-27

Last reviewed: 25 September 2026. House Rent Allowance is still the single biggest tax-free component in most salary structures - and 2026 has brought the first real change to the rules in years: from FY 2026-27, eight cities qualify for the higher 50% exemption limit, with Bengaluru, Hyderabad, Pune and Ahmedabad joining the original four metros. Here is exactly how the exemption works, what changed, and worked numbers you can check against your own payslip. Section numbers from the 1961 Act apply to FY 2025-26; for FY 2026-27 we give the Income-tax Act, 2025 reference alongside.

Quick answer
The formulaExempt HRA = least of: actual HRA received; 50%/40% of salary; rent paid minus 10% of salary.
Metro listAY 2026-27 filings: Delhi, Mumbai, Kolkata, Chennai. From FY 2026-27: + Bengaluru, Hyderabad, Pune, Ahmedabad.
RegimeOld regime only. Under the new (default) regime, the entire HRA is taxable.
PaperworkRent receipts/agreement; landlord PAN if rent > Rs 1 lakh/year; 2% TDS if monthly rent > Rs 50,000.

How the exemption is computed

The exemption under section 10(13A) of the Income-tax Act, 1961 read with Rule 2A (for FY 2025-26), and under section 11 of the Income-tax Act, 2025 read with Schedule III, Table S.No. 11 and the corresponding rule of the Income-tax Rules, 2026 (from FY 2026-27), is the least of:

  • Actual HRA received for the period the rented house is occupied;
  • 50% of salary (metro) or 40% (non-metro);
  • Rent paid minus 10% of salary.

"Salary" here means basic pay plus dearness allowance (if it forms part of retirement benefits) plus fixed-percentage commission on turnover - not gross CTC. The computation is done for the period of occupation, so a mid-year rent change or city change splits the calculation.

The 2026 metro change - who gains

PeriodCities at 50%Cities at 40%
Up to FY 2025-26 (AY 2026-27 - returns being filed now)Delhi, Mumbai, Kolkata, ChennaiAll other cities, including Bengaluru, Hyderabad, Pune, Ahmedabad
From FY 2026-27 (Income-tax Rules, 2026)Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, AhmedabadAll other cities

Do not apply the 8-city list to the return you are filing this season. AY 2026-27 follows the old 4-metro list; the expanded list applies to salary earned from 1 April 2026, so you will first see it in TDS workings for FY 2026-27 and in the AY 2027-28 return.

Worked example - Pune employee, before and after

Basic salary Rs 60,000/month (no DA), HRA Rs 30,000/month, rent paid Rs 35,000/month in Pune. Annual figures: salary Rs 7,20,000; HRA Rs 3,60,000; rent Rs 4,20,000.

LimbFY 2025-26 (Pune = 40%)FY 2026-27 (Pune = 50%)
Actual HRA receivedRs 3,60,000Rs 3,60,000
50%/40% of salaryRs 2,88,000Rs 3,60,000
Rent minus 10% of salaryRs 3,48,000Rs 3,48,000
Exempt (least)Rs 2,88,000Rs 3,48,000

The same employee gets Rs 60,000 more exempt from FY 2026-27 - roughly Rs 18,700 of tax at the 30% slab (old regime, excluding surcharge). If your salary structure is HRA-light, this is the year to revisit it with your employer.

HRA vs the new regime - run the break-even

HRA exemption exists only in the old regime. The new regime is the default and taxes HRA fully, but has lower slab rates. High rent in a metro is one of the few situations where the old regime still wins for many taxpayers - especially when combined with 80C, health insurance and home-loan interest. Run both computations before choosing; our old vs new regime break-even guide shows the method with worked examples.

The Pune example under both regimes (FY 2026-27). Assume the same employee also receives a special allowance of Rs 3,60,000, so gross salary is Rs 14,40,000, and invests Rs 1,50,000 under section 80C (section 123 of the 2025 Act). Professional tax is Rs 2,500.

ItemOld regimeNew regime
Gross salaryRs 14,40,000Rs 14,40,000
Standard deductionRs 50,000Rs 75,000
HRA exemptionRs 3,48,000Nil
Professional taxRs 2,500Not allowed
Section 80CRs 1,50,000Not allowed
Taxable incomeRs 8,89,500Rs 13,65,000
Tax including 4% cessRs 94,016Rs 88,140

Even with the higher Pune limit, the new regime is about Rs 5,900 cheaper for this employee. At the 20% old-regime slab plus cess, each extra Rs 1,000 of old-regime deduction saves about Rs 208, so the old regime wins only if roughly Rs 28,000 or more of further deductions are available, for example a health insurance premium or interest on a home loan. Change any of these figures and the answer can flip, which is why the computation has to be run with actual numbers each year.

Expatriates and employees of foreign companies. An expatriate or foreign-company employee working in India who is paid through a foreign payroll or a shadow payroll gets HRA exemption on the same formula, but only if the Indian TDS working treats the housing payment as HRA and the rent evidence is held in India. Company-leased accommodation is a perquisite, not HRA. Equity awards from the overseas parent add a separate layer, covered in our RSU and ESPP taxation guide. Our foreign subsidiary accounting, CFO and FEMA team sets up shadow-payroll TDS for Indian subsidiaries of foreign groups.

Documentation that survives scrutiny

  • Rent agreement + monthly receipts (revenue stamp where customary). Pay by bank transfer, not cash.
  • Landlord PAN if annual rent exceeds Rs 1,00,000; a signed no-PAN declaration (Circular 8/2013) if the landlord has none.
  • TDS on rent: individuals paying rent above Rs 50,000 per month must deduct TDS at 2% under section 194-IB for rent paid up to March 2026, and under section 393(1) Table S.No. 2(i) of the Income-tax Act, 2025 (old 194-IB) at 2%, reported in Form 141 (old 26QC), for rent paid from April 2026 (see our TDS section mapping under the 2025 Act).
  • Rent to parents: genuine agreement, actual payment, and the parent offers the income in their return. Avoid spouse arrangements.
  • Keep the declaration filed with your employer (Form 12BB for FY 2025-26; Form 124, old 12BB, for FY 2026-27) consistent with what you claim in the ITR - mismatches with Form 16 trigger queries; if you missed claiming HRA through the employer, it can still be claimed in the return with proofs on file. Also see house property income and home-loan benefits if you own property.

Common mistakes we see in filings

  • Applying 50% for Bengaluru/Pune/Hyderabad/Ahmedabad in the AY 2026-27 return - it is still 40% for FY 2025-26.
  • Computing on gross salary or CTC instead of basic + qualifying DA.
  • Claiming HRA while living in one's own house, or paying "rent" only on paper.
  • Forgetting TDS on rent above Rs 50,000/month (194-IB, or section 393(1) from April 2026) - interest and fees follow the tenant, not the landlord.
  • Missing the ITR deadlines for AY 2026-27 and losing the chance to pick the old regime in a belated return (the option narrows once the due date passes).

Frequently asked questions

Can I claim HRA exemption under the new tax regime?

No. HRA exemption is available only under the old tax regime. Under the new (default) regime the entire HRA is taxable. If your HRA exemption plus other deductions exceed the new-regime benefit, evaluate opting for the old regime before filing.

Which cities count as metro for the 50% HRA limit?

For AY 2026-27 (FY 2025-26, being filed now) only Delhi, Mumbai, Kolkata and Chennai qualify at 50%. From FY 2026-27, under the Income-tax Rules, 2026, Bengaluru, Hyderabad, Pune and Ahmedabad are also treated as metros - eight cities in all. Everywhere else remains 40%.

Do I need my landlord's PAN?

Yes, if annual rent exceeds Rs 1,00,000. If the landlord has no PAN, obtain a signed declaration to that effect (Circular 8/2013). Without this, the employer must restrict the exemption while deducting TDS.

Can I pay rent to my parents and claim HRA?

Yes, if the arrangement is genuine: a rent agreement, actual bank payment every month, and the parent offering the rent as income in their return. Rent paid to a spouse is litigation-prone and best avoided. Disclose family-landlord arrangements accurately if the ITR utility asks.

Can I claim both HRA and home loan deductions?

Yes, where the facts support it - for example, you own a house in one city (claiming interest deduction) but live on rent in another city for work. Keep evidence of the genuine need for both.

What if my salary has no HRA component at all?

Salaried persons without HRA and the self-employed can use Section 80GG (section 134 of the Income-tax Act, 2025 from FY 2026-27), under the old regime only: the least of Rs 5,000 per month, 25% of adjusted total income, or rent paid minus 10% of income - subject to conditions including not owning a house at the place of work.

With the higher Pune limit, is the old regime now better for me?

Not automatically. In our FY 2026-27 example, a Pune employee on Rs 14.4 lakh with Rs 3.48 lakh of HRA exemption and Rs 1.5 lakh of 80C still pays about Rs 5,900 less under the new regime. The old regime wins only if further deductions of roughly Rs 28,000 or more are available, such as a health insurance premium or home-loan interest. Run both computations with your actual figures.

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This article is for general information for AY 2026-27 / FY 2026-27 and is not a substitute for professional advice on specific facts. Figures assume resident individual taxpayers and the slab rates and standard deductions in force for FY 2026-27; verify positions applicable to your case before acting.