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need right answer asp Medical allowance Employer's contribution to RPF in excess of 12% of salary Sweeper Servant Concession in rent Gross Salary Less: Deductions
need right answer asp
Medical allowance Employer's contribution to RPF in excess of 12% of salary Sweeper Servant Concession in rent Gross Salary Less: Deductions Taxable salary 10000 2400 2400 9000 9330 242530 nil 2,42,530 Notes: Concession in Rent: 7.5% of Salary (180000+12000+2400+10000) Less : Rent Charged Rs: 15,330 Rs: 6,000 Rs: 9.330 Mr. Justin Kuriakose retired on 31-10-2012 after serving 20 years. He received Rs:96,000 as leave encashment for 12 months. His average salary at the time of retirement amounted to Rs:7,400. He had 2 months leave at his credit. Find out the taxable amount of Leave encashment. s34 The exempted amount of leave salary is least of the following: 10 months average salary (7400 x10 ) Rs:74000 Actual amount of leave encashment received Rs:96,000 Amount of leave salary at his credit (7400x2) Rs:14,800 Maximum limit Rs:3,00,000 Computation of taxable Amount of Leave Salary Amount of leave salary received 96,000 Less: amount exempted 14,800 Taxable amount of leave salary 81.200 Illustration:12 From the following particulars calculate the salary income of Mr. Reshin for the assessment year 2013-14: Basic pay Rs: 5500 p.m. HRA Rs:2400 p.m. DA Rs: 5,000 p.m. Entertainment Allowance Rs:1,200 p.m. CCA Rs: 600 p.m. Education allowance for 2 children (total) Rs: 800 p.m. Reshin and his employer (a private company) contribute to RPF @ 14% of salary. He lives in a rented house at Alleppy on amonthky rent f Rs: 3000Step by Step Solution
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