Answer Posted / ajoy kumar rai

LEAST OF THE FOLLOWING IS EXEMTED FROM TAX:-
1)ALLOWANCE ACTUALLY RECEIVED
2)RENT PAID LESS 10% OF SALARY
3)50% OF SALARY- IF HOUSE TAKEN ON RENT IS SITUATED IN
DELHI, KOLKATA, MUMBAI AND CHENNAI.
4) 40% OF SALARY - IF HOUSE IS TAKEN ON RENT IN OTHER
CITIES.

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