Question

Income Under the Head Salaries

24. From the details given below, compute net salary for the assessment year 2021-22.

(i) Salary

Rs. 3,500 p.m

(ii) DA

Rs. 1,000 p.m.

(iii) CCA

Rs. 200 p.m.

(iv) HRA

Rs. 1,000 p.m

(Rent paid in Delhi Rs. 1,500 p.m.)

(v) Commission on sales received

Rs. 6,000.

[Bharathidasan, B.Com., Nov. 2004]

[Ans: Net salary: Rs. 62,400; Taxable HRA: NIL]

Hint: Since nothing is mentioned about whether DA is forming part of salary DA is not included for HRA exemption.

25 Compute taxable HRA from the following:​

Answer 1

Answer:

salary Rs.3500 p.m

Explanation:

from the details given below compute net salary 3500 for the assessment year .