Question

(5.9 Mr. X was working in a factory in Delhi. He got # 14,000 p.m. basic pay, ? 1,600 per month as dearness allowance and * 1,000 p.m. as House Rent Allowance. He resides in his own house. He got * 4,000 as a travelling allowance for the tour. He retired on 1st January, 2021 and got # 1,60,000 as gratuity and + 2,00,000 as accumulated balance in his Unrecognised Provident Fund. His own contribution and that of the factory to this fund was equal. He also received 7 1,76,000 for 10 months' earned leave to his credit at. the time of retirement. Leave accrued at 30 days per year of actual service. He was allowed to get pension of 4,000 per month, three-fourths of which was commuted for * 2,40,000. He commenced service of the factory on 1st August, 1985 and his average salary during the ten months immediately preceding his retirement was ? 15,600. Compute the taxable income from salary of Mr. X for the Assessment Year 2021-22. Ans. 3,55,733. Y I and Y Ltd as sales executive. He retired (5.10) Mr Shine​

Answer 1

He received 7 1,76,000 for 10 months' earned leave to his credit at. the time of retirement. Leave accrued at 30 days per year of actual service. He was allowed to get pension of 4,000 per month, three-fourths of which was commuted for * 2,40,000. He commenced service of the factory on 1st August, 1985 and his average salary during the ten months immediately preceding his retirement was 15,600.