Question
Calculate the income from salary of Mr.A Net salary received Rs 1,74,000 after deduction of the following His contribution to RPF Rs 16,800 Income tax
Calculate the income from salary of Mr.A Net salary received Rs 1,74,000 after deduction of the following His contribution to RPF Rs 16,800 Income tax of Rs 20,000 Housing loan installment Rs 12,000 Other components of his salary are: Employers contribution to RPF Rs 16,800 Interest on RPF (accumulated balance of Rs 150000) Rs 15,000 HRA of Rs 24000 (the house is in Chennai and rent paid by him Rs 50,000) Conveyance allowance Rs 1,000 pm (60% spent on official duties) Entertainment allowance Rs 500pm Education allowance for his 3 children Rs 48,000 Transport allowance Rs 8,000 He paid life insurance premium on his own life policy Rs 10,000 Hostel allowance for his 3 children Rs 20,000 Professional tax paid by the employer Rs 300pm and paid by Jagan Rs 200pm. Reimbursement of medical expense Rs 25000 (treatment taken in recognized hospital) Education facility to his dependent brother in remote area 500pm 10. Mr. V owns a building consisting of 3 units, construction completed on 1.4.19. The building was
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