Tax2win will explain to you how you can generate customized rent receipts for free in less than 2 minutes, to claim HRA tax exemption. What is the actual benefit of Rent Receipts? Many companies provide House Rent Allowance(HRA) to employees for meeting the cost of living in rented accommodation. HRA is one of the biggest tax-saving avenues as the complete amount of HRA is not taxable. The least of the three amounts are tax exempt - Actual HRA received Rent paid less 10% of Salary 40% of Salary (50% of Salary in Mumbai, Delhi, Chennai, and Kolkata)