Question

26. X (age: 42 years), an employee receives the following emoluments during the previous year ending
March 31, 2021: salary: Rs. 11,50,000; bonus: Rs.92,000; salary in lieu of leave: Rs.2,000; and
entertainment allowance Rs.3,000. Besides the aforesaid emoluments, his employer provided free gas
and water for his domestic use (cost Rs.4,000), a domestic servant (salary paid by employer: Rs.18,000),
concessional education facility for his family members in a school maintained by it (cost of education:
X's son: Rs.30,000, amount paid by X: Rs.6,000; X's dependent sister: Rs.32,000, amount paid by X:
Rs.9,000), free meals in office (cost Rs. 17,400, i.e., Rs. 60 x 290 days) and free holiday home facility at
Simla (cost Rs. 8,000). Salary of a personnel attendant (Rs. 9,000) engaged by X is paid by his employer
during the year. On March 31, 2021, X purchases tickets of a music programme for Rs. 40,000 (payment
is made by a credit card given by the company). On March 31, 2021, the employer-company sells an air-
conditioner for Rs.1,000 (cost of air-conditioner to the company: Rs. 45,000, date of purchase: June 30,
2014, it is used for business purposes before its transfer to X). X contributes Rs. 6,500 towards
recognised provident fund; his employer contributes Rs. 5,000. Income of X from other sources is
Rs.2,45,000. Determine the taxable income and tax liability for the Assessment Year 2021-2022 if
The employer is a public sector company, b. The employer is the Punjab Government.​

Answer 1

Answer:

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Explanation:

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