Mr. Abdul Rahim was appointed in a factory on 01st
January 2010 in the pay scale of Rs. 12,000-1000-
24,000. On 1st September 2019 his services were
terminated at the time of retrenchment on account of
closure of business and he received a compensation
of Rs. 2,00,000/- from his employer under the
Industrial Disputes Act and he received also gratuity
Rs. 1,50,000/- under the Payment of Gratuity Act,
1972. He was entitled to avail earned leave of 30 days
each year. At the time of termination of his service,
he was also paid Rs. 1,68,000/- for 08 months earned
leave not availed of by him during the period of
service. On 01st December 2019 he got another
appointment on a monthly salary of Rs. 30,000/-. On
01st February 2020 in order to meet the expenses for
repair of his home, he received an advance of 04
month’s salary and also took a loan of Rs. 20,000/-
from his employer for the purpose.
Determine his taxable income under the head
‘Salaries’ for the assessment year 2020-21 assuming
that the salary is due on the first of th
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