Accountancy, asked by gurdhiansingh24498, 7 months ago

the following trial balance prepared by an inexperienced accountant. redtaft it and comment

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Answered by Anonymous

7

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For most employees, House Rent Allowance (HRA) is a part of their salary structure. Although it is a part of your salary, HRA, unlike basic salary, is not fully taxable. Subject to certain conditions, a part of HRA is exempted under Section 10 (13A) of the Income-tax Act, 1961.

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