Answer to Question #259446 in Finance for anshika

Question #259446

Following emoluments are received by Ms Sangeeta during the previous year ended on 31.3.2021

Basic salary 250000 Dearness Allowance 10000 Commission 2500 Entertainment allowance 2000 Medical expenses reimbursed 25000 Professional taxes paid 2000(Rs1000 paid by employer) Ms. Sangeeta contributes Rs 2000 towards the Recognized Provident Fund She has no other income. Compute the income from salary for A.Y 2021-22, and give reasons and explanations wherever required, If Ms. Sangeeta is a Government employee


1
Expert's answer
2021-11-01T12:51:33-0400

Add;

Basic salary 250000

Dearness Allowance 10000

Commission 2500

Entertainment allowance 2000

Medical expenses reimbursed 25000


Less;

Professional taxes paid 2000(Rs1000 paid by employer) 1000

Rs 2000 towards the Recognized Provident Fund 2000


=(250000+10000+2500+2000+25000)-(1000+2000)

=286500


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