An experiment was carried out during Rabi 2021-22 at the experimental plot of ICAR-Indian Institute of Rice Research, Hyderabad. Two diverse elite indica lines of rice (Jaya and isogenic line of MTU1010) were used to generate the F2 population to study genetic variability parameters, heritability, and expected genetic advance under selection. Higher GCV, PCV, and heritability coupled with high genetic advance were estimated for the number of productive tillers, panicle weight, number of filled grains, and single plant yield, which indicated that heritability of these traits was under the control of additive gene action. Stringent selection for such traits will be rewarding.