Mr. Amit employed in X Co. Ltd., in Salem, received ₹ 10,000 per month as house rent allowance in the year 2020-21. His total salary is ₹ 4 lakhs consisting of Basic pay + DA. He paid rent of ₹ 8,000 per month. How much of HRA is exempt from tax
A. ₹ 40,000
B. ₹ 56,000
C. ₹ 1,20,000
D. ₹ 1,60,000
Answer:B
Mr. Amit employed in X Co. Ltd., in Salem, received ₹ 10,000 per month as house rent allowance in the year 2020-21. His total salary is ₹ 4 lakhs consisting of Basic pay + DA. He paid rent of ₹ 8,000 per month. How much of HRA is exempt from tax
A. ₹ 40,000 B. ₹ 56,000 C. ₹ 1,20,000 D. ₹ 1,60,000