Q.27. Calculate the exempt HRA from the following details: X is - TopicsExpress

Q.27. Calculate the exempt HRA from the following details: X is entitled to a basic salary of Rs. 50,000 p.m. and dearness allowance of Rs. 10,000 p.m., 40% of which forms part of retirement benefits. He is also entitled to HRA of Rs. 20,000 pm. He actually lives with his parents in Mumbai and does not pay any rent. Market rent of that house is Rs. 20,000 pm in Mumbai. A) nil b) Rs. 1,75,200 c) Rs. 64,800 d) Rs. 2,40,000

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