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White paper hand solved needed. Very fast. 15 mins 17. Mr. Trivedi, an employee of a private limited company, Kolkata, furnishes the under noted particulars
White paper hand solved needed. Very fast. 15 mins
17. Mr. Trivedi, an employee of a private limited company, Kolkata, furnishes the under noted particulars of his income for the PY 2019-20: (a) Basic salary as on 1-4-1925,000 p.m. [increment of $500 p.m. falls due on 1st January each year). (b) Dearness allowance @ 40% of salary for the previous year. (c) Medical Allowance 82,000 p.m. Actual expenditure incurred for his medical treatment during the PY 310,000. (d) He contributed 13% of his basic plus DA to a recognized provident fund. His employer also contributed an equal amount. Interest @ 12% p.a. amounting to * 6,000 was credited to his provident fund account. (e) He was provided with a rent-free furnished accommodation at Kolkata for which the employer paid a rent of 4,000 p.m. The employer purchased furniture for him costing * 25,000. (1) He is provided a car [ 1200 CC) both for official and private purposes. The running and maintenance expenses of the car including chauffeur salary borne by the employer. (g) His employer being pleased with his work, presented him on 1st October, 2019, a watch costing 5,000. (h) He paid professional tax of 21,200. Compute his income from salary for the assessment year 2020-21. [10]Step by Step Solution
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