Thirty one genotypes of rice (Oryza sativa L.) were evaluated during kharif 2009-2010 for yield and its attributing traits to examine the nature and magnitude of variability, heritability (broad sense) and genetic advance. Analysis of variance showed significant difference among all the traits, indicating the presence of sufficient variability among these traits, which was confirmed by broad range of variability. Significantly higher mean values of grain yield (6360 kg/ha), plant height (106.66cm), panicle length (31.60cm) and higher number of panicles per meter square were observed in IET-21601 followed by IET-18299, IET- 21582 and IET 21581. Among the entire traits grain yield (kg/ha) exhibited high estimates of genotypic coefficient of variation (GCV) and phenotypic coefficient of variation (PCV) followed by number of panicles per meter square, plant height and panicle length. Broad sense heritability and genetic advance were highest for grain yield (kg/ha), which suggested that this trait would respond to selection owing their high genetic variability and transmissibility.