Question

27. X (age: 62 years) is in the Central Government service till his retirement on May 31, 2014 when he joins
A Ltd. During the previous year 2020-21, he gets the following from A Lid. Basic salary: Rs. 20,000 per
month; dearness allowance: Rs.2,000 per month (half of which is part of salary for retirement purposes);
overtime allowance up to May 31, 2020: Rs. 2,000 per month; helper allowance for office use: Rs.1,000
per month (expenditure : Rs. 800 per month), medical bills reimbursement: Rs. 44,000 (out of which
Rs 12,000 is in respect of treatment in a Government hospital), free gas and electricity only for personal
use: Rs. 24,000; free telephone at residence: Rs.9,000; free lunch in office: Rs.10,500 (amount paid
directly to canteen @ Rs. 35 per day for 300 days); interest-free loan for house Rs.2,00,000 for six years.
(SBI lending rate on April 1, 2020 8.60 per cent), earned leave encashment : Rs.16,000 (as per service
rules X is entitled for 2 days leave for each month of service and during 2020-21, X has encashed 24days
leave earned during the year); mediclaim insurance on life of X: Rs. 5,060; reimbursement of mediclaim
insurance premium on the life of X's brother who is not dependent upon X: Rs. 4,100; leave travel
concession for X and his family: Rs. 46,500 (no journey is undertaken). Up to May 31, 2020, X has been
paid house rent allowance Rs.4,000 per month (rent paid at Delhi: Rs. 4,000 per month). With effect
from June 1, 2020 he has been provided rent-free furnished house at Saket, New Delhi whose lease rent
is Rs. 15,000 per month (cost of furniture provided with effect from September 15, 2020: Rs. 20,000).
Further, A Lid bears the following expenses in respect of the house repairs of house: Rs. 6,000 and rent
of air-conditioning system: Rs. 9,000 (for the summer of 2020).
Income of X from other sources is Rs 6,80,267 (which includes Government pension of Rs.1,20,000).
Find out the taxable income and tax liability of X for the Assessment Year 2021-2022 on the assumption
that X annually contributes Rs. 30,000 towards recognised provident fund and Rs.10,000 towards public
provident fund.​

Answer 1

Answer:

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B MATHEMATICS I am not sure if you have