Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Oldman retired from his job after 29 years 6 months and 15 days of service on Dec 17, 2022 and received gratuity amounting 400,000.

Mr. Oldman retired from his job after 29 years 6 months and 15 days of service on Dec 17, 2022 and received gratuity amounting 400,000. His salary at the time of retirement was 6000, dearness allowance 1200. House rent allowance 2000. Commission on profit 5000. He got an increment on Jan 14, 2022 of 1000. Turnover achieved by assessed 100000. Calculate hid taxable gratuity if he is a government employee.

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

Step: 3

blur-text-image

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

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino

6th Canadian edition

1259453146, 978-1259453144

More Books

Students also viewed these Finance questions