From the following particulars furnished by Mr X residing in Delhi, find the taxable amount of HRA. Basic Salary (per annum) is ₹ 3,00,000, House Rent Allowance (per annum) is ₹ 60,000 and Rent paid for house in Delhi is ₹ 75,000.
To calculate the exempt amount of House Rent Allowance (HRA) for Mr. X, we need to compare three amounts: Actual HRA Received: ₹60,000 Rent Paid minus 10% of Basic Salary: ₹75,000 - (10% of ₹3,00,000) = ₹75,000 - ₹30,000 = ₹45,000 50% of Basic Salary for Metro Cities: 50% of ₹3,00,000 = ₹1,50,000 The exempt HRA amount will be the minimum of these three calculations. So, in this case, the exempt HRA amount is ₹45,000. Taxable amount of HRA = 60,000-45000 = 15000
The establishment of Agriculture Insurance Company of India Limited (AIC) was announced in which General Budget speech?
In which type of insurance, schemes are offered by insurance companies to provide certain classes of individuals, the benefit of insurance coverage at m...
In relation to insurance sector, what is the full form of EP?
In which year all shares of Oriental Insurance Company Ltd. held by the General Insurance Corporation of India were transferred to the Central government?
The Indian insurance industry is governed by which of the following act ?
Which of the following term matches with Family Floater?
Insurance is, thus, a financial tool specially created to reduce the financial impact of unforeseen events and to create______.
Intangible assets cover non-physical assets that cover ________________.
What is the minimum tenure of public provident fund?
An agreement between an insurance company and an agent, granting the agent authority to write insurance from that company is called?