House Rent Allowance is exempt from tax

A. True

B. False

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  1. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  2. Assessment year 2006-07 commenced on
  3. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  4. Income Tax Act 1922 is a "milestone" because
  5. The CBDT consists of
  6. Uncommuted pension received by a Government employee is fully exempt from tax.
  7. If a self occupied property is converted into HUF property without adequate consideration then
  8. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  9. Any receipt of casual and non-recurring nature is known as casual income
  10. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  11. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  12. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  13. The Income Tax Act 1961 came into force on
  14. Which of the following statements is incorrect?
  15. The Income Tax Act, which is still in force in India, was enforced in
  16. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  17. The first income tax act was introduced in the year
  18. Which of the following income is / are exempt from tax?
  19. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  20. According to Section 2(7) of Income Tax Act "Assessee" means
  21. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  22. PAN is necessary for the following assessees -
  23. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  24. House Rent Allowance is exempt from tax
  25. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  26. Tax on fringe benefit has been introduced from the assessment year
  27. The rates of income tax are specified in
  28. If both parents are earning then income of a minor child will be clubbed with
  29. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  30. The rates of Income Tax are specified in