The HRA full form stands for House Rent Allowance. It is mostly exempted from this House Rent Allowance tax only for those living in a rented house. These are part of your salary paid by the employer to cover the rent expenses for accommodation. This HRA deduction is deducted from the annual income of a salaried and self-employed person while filing an ITR. It is the amount of tax credit that can be claimed, which enables an individual to reduce his annual income and save some tax.HRA exemption is not available for self-employed persons, but salaried persons can avail of this rent payment arrangement. Self-employed persons can avail of tax benefits under the provisions of Section 10(13A) and exemption under Section 80GG of the Income Tax Act.For salaried persons, HRA is a good part of their salary structure. It is determined based on the basic salary of the employee, the actual rent paid, and the city they live in.