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Commerce Income Tax And Corporate Tax Difficulty: Medium

X is employed in a private company at a salary of Rs. 70,000 per month and Rs. 10,000 per month as dearness pay. He received Rs. 2,000 per month as house rent allowance. He paid Rs. 2,500 per month as house rent. What ts the exempted portion of house rent allowance?

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More Commerce Questions

Which of the following a/c is debited when statutory reserve of the transferor company is taken over by the transferee company? Which of the following is/are agricultural income? 1. Income from growing flowers and creepers. 2. Income from dairy farming. 3. Rent for agricultural land received from sub-tenants by mortgagee in possession. Select the correct answer using the options given below Under the Factories Act, 1948 provisions for 'Creche' is applicable, if The interest on borrowed fund or under hire-purchase/instalment system is . . . . . . . . in computing the income. Discount allowed is a kind of deduction from