Jun
05
I recently moved to India. How much should my house rent be as a percentage of my CTC or basic salary?
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I have recently moved to Chennai. I am planning on renting initially, at least for the first year. I was wondering if there is a recommendation as to what should one’s house rent be, as a percentage of one’s salary (whether it is the basic salary or the CTC).
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3 Comments
June 7th, 2010 at 5:27 pm
Around 30% of your basic salary
June 10th, 2010 at 6:06 am
It should be around 21% of ur basic… So that ur whole amount is non taxable..
June 12th, 2010 at 8:20 pm
20% is OK for tax exemption you are going to get, but if you are going for comfortable housing then you need to pay more in real terms assuming you get a salary of 500000 a year.Dobuling that salary, you get comfortable house at 20% of basic pay.