FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From the following particulars, calculate income from salary of Mr.X for the Assessment year 2020-21 who resides in Chennai. (a) Salary (after 20% TDS and

image text in transcribed

From the following particulars, calculate income from salary of Mr.X for the Assessment year 2020-21 who resides in Chennai. (a) Salary (after 20% TDS and 15% Contribution to EPF) Rs. 24,00,000 (b) Employer also contributes equal amount EPF. (C) Holiday trip allowance 20,000 (d) Washing allowance 2,400 (e) Conveyance allowance 48,000 (Actual amount spent 1,5000) (f) House Rent allowance 1,44,000 (Mr. X stays in his own house). (g) He paid Rs. 32,000 family medical insurance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Auditing Research Tools And Strategies

Accounting And Auditing Research Tools And Strategies

Authors: Thomas R. Weirich, Thomas C. Pearson, Natalie Tatiana Churyk

7th Edition

9780470506974

More Books

Students also viewed these Accounting questions

Question

★★★★★
On the following phase-plane diagrams, use the direction arrows to sketch phase-plane trajectories starting from two different initial conditions. B-nullcline A-nullcline 0

Answered: 1 week ago

Question

★★★★★
What services do you offer? Look for an organization that offers budget counseling and money management classes as well as a debt-management plan.

Answered: 1 week ago

Question

★★★★★
1.34 NHL Goals Against Average Leaders Average determined by games played through 1942-43 season and by minutes played since then. A sample of goals against average leaders is listed in the table.6...

Answered: 1 week ago

Question

★★★★★
Should you drop your decision-analysis course? Suppose you faced the following problem: If you drop the course, the anticipated salary in your best job offer will depend on your current GPA:...

Answered: 1 week ago

Question

★★★★★
Demand - pull infilation occurs when a: A . leftward shift of aggregate demand causes firms to raise their prices in an attempt to make up for a lower sales volume. B . rightward shift of aggregate...

Answered: 1 week ago

Question

★★★★★
International Technology Inc. (111) acquires all of the voting stock of Global Outsourcing Corporation (GOC) on June 30, 2010. Amounts paid are as follows (in millions): Cash consideration to the...

Answered: 1 week ago

Question

★★★★★
Why should a business be socially responsible?

Answered: 1 week ago

Question

★★★★★
Discuss the general principles of management given by Henri Fayol

Answered: 1 week ago

Question

★★★★★
Explain the importance of effective supervision in a banking network

Answered: 1 week ago

Question

★★★★★
Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago

Question

★★★★★
Discuss briefly about S N 1 (CB) mechanism for the reaction: [Co(en) 2 NH 3 Cl] 2+ + OH - ? [Co(en) 2 NH 3 OH] 2+ + Cl -

Answered: 1 week ago

Question

★★★★★
What are your strengths and weaknesses with numerical reasoning? Where might you look for help with statistics (family member; work colleague; fellow student; colleague; tutor; friend)?

Answered: 1 week ago

Question

★★★★★
What books or manuals might you obtain to help you through the data analysis process?

Answered: 1 week ago

Question

★★★★★
How realistic do your outputs look? Might some of them really be too good to be true meaning that you need to carefully check the appropriateness of the test and the way it has been undertaken?

Answered: 1 week ago

Previous Question Next Question