Question

211
LAKY-I
7. Shri Sahil kumar is an employee of Allahabad Cloth Mills Ltd. Delhi. He gets basic pay
* 7,000 p.m, dearness allowance @ 4,000 p.m. and entertainment allowance @ 600
p.m. He has been provided with a rent-free house owned by company the fair annual rent
of which is 38,000. He has also been provided by the company with facility of free use
of water and light for which employer paid 15,000 during the previous year. Employer
paid a life insurance premium of 2,000 for the policy on the life of the employee.
The company has provided him a large car, all the expenses relating to office use are
borne by the company. The car is used partly for personal purposes also. The salary of the
driver is paid by the company. The company has provided the amenity of free lunch and,
refreshment in office the cost of which is 60 and 30 per day respectively for 280 days.
He has been provided with the facility of a sweeper and a cook who are paid salary by the
company @ 250 per month and @ 700 per month respectively.
He and the company both contribute 14% of basic pay and dearness allowance
towards Recognized Provident Fund. During the financial year 2019-20 interest credited
to his provident fund account @ 9% amounts to 13,000.
Compute the taxable income from salaries of Shri Sahil for the assessment year 2020-21.
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Answer 1

Answer:

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