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of <h1>Income from Renting Out Palaces Previously Occupied by Former Rulers is Taxable u/s 10(19A) of Income Tax Act.</h1> Section 10(19A) of the Income Tax Act specifies that if a palace, or a portion of it, previously occupied by a former ruler is let out, the income generated from such letting is taxable and not exempt. This provision falls under the category of assessee-specific exemptions and deductions, clarifying that the exemption does not apply when the palace is rented out.
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