Ravi is employed in A Zone Ltd as Marketing Manager at Chennai during the financial year 2022-23. His basic pay and DA (eligible for retirement benefits) amounts to ₹15,40,000. He received ₹3 lakh as house rent allowance
CS Executive · Tax Laws · PYQS · June 2023
Ravi is employed in A Zone Ltd as Marketing Manager at Chennai during the financial year 2022-23. His basic pay and DA (eligible for retirement benefits) amounts to ₹15,40,000. He received ₹3 lakh as house rent allowance and paid actual rent of ₹30,000 per month during the year 2022-23. How much of house rent allowance is eligible for exemption under section 10(13A) of the Income Tax Act, 1961?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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