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ACTIVITY Calculation of Income Tax Question 1 Mr Shah has a basic salary of 1,00,000 per month. House Rent Allowance (HRA) of 45,000 per month.

ACTIVITY Calculation of Income Tax Question 1 Mr Shah has a basic salary of 1,00,000 per month. House Rent Allowance (HRA) of 45,000 per month. Special allowance of 20,000 per month Leave Travel Allowance (LTA) of 20,000 per Annum. He is investing 1 lakh in PPF and 25000 in medical insurance. Calculate his total taxable Income and tax liability

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