Delhi/Hyderabad, Mar 20 (Maxim News): The central government has given good news to employees working in Hyderabad. It has decided to increase the House Rent Allowance (HRA) exemption limit for employees. According to the current decision, the exemption limit has been increased to 50 percent. In this regard, the center has notified the Income Tax Rules, 2026. Meanwhile, the central government will bring into force the new Income Tax Act, 1961, which is about sixty years old. As part of that, the new rules will come into force from April 1. The center has issued a gazette notifying these rules.
Earlier, only Mumbai, Kolkata, Delhi and Chennai were called metro cities. Therefore, the HRA exemption limit for employees working in those cities was 50 percent. However, Hyderabad, which is competing with those cities, has now joined the list. Along with this, Bengaluru, Pune and Ahmedabad have also been included as metro cities. The number of metro cities has now reached 8. Employees living in these cities will be able to get tax exemption under HRA up to 50 percent of their salary. For the rest, the previous 40 percent will continue as it was. The Center has decided that this will be applicable in the new financial year, i.e., in the time of returns to be filed in July 2027. Officials revealed that this change will be useful to reduce taxes in the old tax system. Those who have opted for the new tax system will not be able to get this exemption. (Maxim News)
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