Mr. Pushakar retired from the services of Samadhan Ltd. on 31.01.2022, after completing service of 30 years and one month, and received the following on his retirement:

a. Gratuity 7,00,000. He was covered under the Payment of Gratuity Act, 1972.

b. Leave encashment of 2,50,000 for 330 days leave balance in his account. He was credited 30 days leave for each completed year ofservice.

c. As per the scheme of the company, he was offered a car on 31.01.2021 which was purchased on 01.03.2018 by the company for Rs. 5,00,000. Company has recovered

d. 2,00,000 from him for the car. Company depreciates the vehicles at the rate of 15% on Straight Line Method.

e. An amount of 3,00,000 as commutation of pension for 2/3 of his pension commutation.

f. Company presented him a gift voucher worth 8,000 on his retirement.

g. Medical expenses reimbursed by the employer 30,000

h. Profession tax (of this, 50% paid by employer) 3,000.

i. Health insurance premium paid by employer 9,000.

j. Gift voucher given by employer on his birthday 15,000.

k. Life insurance premium of Niranjan paid by employer 35,000 l. Laptop provided for use at home. Actual cost of Laptop to employer 35,000.

Following are the other particulars:

a. He has drawn a basic salary of 20,000 and dearness allowance @ 50% of basic salary for the period from 01.04.2021 to 31.01.2022. Dearness allowance does not form part of pay for retirement benefits.

b. Received pension of 7,000 per month for the period 01.02.2022 to 31.03.2022 after commutation of pension. Compute his income taxable under the head Salaries for Assessment Year 2022 23.