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Mr . Laxman joined a company on 0 1 . 0 6 . 2 0 2 1 in a town where population is 1 5

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Mr. Laxman joined a company on 01.06.2021 in a town where population is 15 lakhs,
and was given the following.
Monthly emoluments: Basic Pay 25,000 ; D.A.10,000 ; Medical allowance 500.
Furnished accommodation owned by the employer and provided free of cost.
Value of furniture there in 30,000.
Motor car (1.5 litre CC) owned by the company with a chauffeur for official and
personal use. Expenses of the car paid by the company 45,000.
Salary of servant and watcher paid by company 1,500 each (per month)
Educational facility for 2 children provided free of cost. The school is owned and
maintained by the company, expenses incurred by the company 12,000.
Interest free loan 5,00,000 repayable within 7 years given by the company on
1.10.2022 for purchasing a house. No repayment was made during the year. (SBI
housing loan interest rate 9% p.a.)
Interest free loan for purchasing a computer 50,000 given on 1.1.2022. No repayment
was made during the year (SBI interest rate 12% p.a.).
You are required to compute the income of Mr. Laxman under the head 'income from
salary' for the year 2022-23.
[Ans.5,06,500]. please bring the answer as rs5,06,500 only
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