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A. Ranbir Kapoor is a salaried employee working in Lucknow and getting the following Salary per month Basic Salary - Rs 1,00,000/- HRA - Rs.

A. Ranbir Kapoor is a salaried employee working in Lucknow and getting the following Salary per month

Basic Salary - Rs 1,00,000/-

HRA - Rs. 50,000 /-

Special Allowance - Rs 25,000/-

He has taken house on rent and is paying Rs. 30,000/- per month as rent.

Calculate how much HRA is exempt from Tax as per applicability of Income Tax Act.

B. What is the Standard deduction amount allowed as per Income Tax Act.

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