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 purpose of preparing final accounts is to ascertain         .
Which of the following is not a Subsidiary Book in Accounting?
Calculate Capital Gearing Ratio of the company?
Calculate cost of goods sold from the following figures:
Opening stock = Rs. 3,500
Purchases = Rs. 21,000
Closing stock = Rs. 2,500
Which major factor led to high levels of debt among Indian telecom operators?
Opening Stock          ₹ 17,000
Purchases              ₹ 61,400
Direct Expenses  Â...
Calculate the average age of inventory(Assume 360 days in a year):
Under which section of the Income Tax Act, 1961, is the term "person" defined?
AEPS stands for ______________.
Which of the following section deals with deduction in respect of Interest on deposits in savings/FD account in case of resident senior citizens?
