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      Income Tax

      As per section 10(19A), if the annual value of any one palace in the occupation of a former ruler, is let out, then whether its income shall be exempted?

      16 May, 2018

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      Manual - Exempted Income u/s 10 - Assessee Specific

      No, as per section 10(19A), if such palace or a portion of a palace is let out , then its income shall be taxable.

       

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      ActsIncome Tax
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