Question

Illustration 29. From the particulars given below calculate salary income of
Mr. Gupta for the assessment year 2017-18:
1. Basic pay 31 2000 p.m. (due on last day of month)



2. D.A. 60% of salary (50% of D.A. forms part of salary)
3. Bonus basic salary for one month
4. Commission 62,000
5. Leave encashment 24,000. It relates to encashment of current year's leave
6. He has engaged a helper al 2,200 p.m and his employer pays him 2,500 p.m
on this account
7. Medical bills for 40,000 were reimbursed. The expenses were incurred in the
following manner:
(i) Treatment in a notified hospital 30,000
(1) Treatment in a private nursing home ?10,000
8. Personal mobile telephone bill of employee paid by the employer *8.000
9. On 1-12-2016, he took a loan of 3,00.000 from his employer to purchase a car
Rate of interest is 9.25% pa. Repayment of loan@5,000 is to start from 14.2017
Prescribed rate of interest by SBI on such loan as on 1-4-2016 is 11.25% pa
10. He and his employer contribute 30,000 each towards RPE
11. Interest credited on the accumulated balance of RPF @10% is 20.000
12. He received 20,000 as leave travel concession but has not travelled anywhere.
p.m
13. He has been provided with a rent free house hired by employer at 8.000
Mr. Gupta is posted in a city population of which is 16 lakhs.​

Answer 1

Answer:

ohhh my God ☺️......so long answer