Question

House rent allowance is exempt from tax true or false

Answer 1

Answer:

Explanation:true

Answer 2

‘House rent allowance is exempt from tax’ is a TRUE statement.

Explanation:

• A part of HRA is exempted under Section 10 of the Income-tax Act, which is subject to certain conditions.  

• The House Rent Allowance for a lot of people is a part of their salary structure. It is not fully taxable even though it is part of the salary structure.  

• Under the government act, a person who is self-employed or works on a salary can claim the tax exemption or the rent paid by him which is more than ten percent of their income.