Answer to Question #152499 in Other for valar mathi

Question

mr. paven for the previous year 2017-2018

he is employed in a cotton textile mill at banglore on monthly salary of 25,000. he is also entitled to a commission @ 1% of sales effected by him. the sales effected by him during the previous year amounted to 40,00,000. a) dearness pay @ 6,000 per month b) bonus at two month basic salary c) entertainment allowance 2000 per month d)house rent allowance 5000 per month e) income tax of mr. pavan paid by the employe 10000 f)free telephone is installed at his resident g)he and his employer contribute 15% salary to his RPF and intrest credeted to this fund at 10% amounted to 30000 during year h) he spent 6000 per month as rent of the house occupied by him in bangalore i) the employer provides him hotel accomodation from 1-1-2018 to 26-6-2018 and hotel tariff of 10000 per day is paid by employer j)no of days for accommodation 10 days compute his taxable income under the head salaries for the assessment yearr 2018-2019

Answer 1

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