Question

06 THE FOLLOWING ARE THE PARTICULARS OF MR PRIYAN WHO IS EMPLOYED
IN CHENNA
(1) BASIC SALARY Rs 4000 pm
(WD DA (60% OF BASIC SALARY)
(un CCA Rs 250 pm
(iv) HOUSE RENT ALLOWANCE Rs 450 m. (RENT PAID Rs 500 m)
(v) DURING THE YEAR HE PAD PROFESSIONAL TAX Rs 550
(
(vi) EDUCATION ALLOWANCES Rs 150 p.m. (PER CHILD)
CALCULATE SALARY INCOME​

Answer 1

Answer:

Salary income will be as under:-

Explanation:

Basic salary           4,000.00

DA     60%             2,400.00

CCA                          250.00

HRA                          450.00   (rent paid is not relevant provided it is paid

                                                  by the employer)

Education allowance 150.00    (Treated that he has one child)

Total Salary           7,250.00

Minus Professional

Taxpaid                 =  550.00

Net Salary            =6,700.00