Question

Mr. Tata is the Executive Director of an MNC having its head office at Chennai. For the

assessment year 2019-20 he submitted the following return : Rs.

(i) Salary @ Rs. 32,000 p.m. 3,84,000/-

(ii) Conveyance Allowance (spent for performance of duty) 48,000/-

(iii) Education Allowance for two children @ Rs. 1,200 p.m. 14,400/-

(iv) Cost of Electricity Bills paid by the Company 38,000/-

Rs. 4,84,400/-

Less : (a) Entertainment Expenditure incurred on the Customers 26,000/-

(b) Donation to Gandhi National Memorial Fund 8,000/- 34,000/-

Rs. 4,50,400/-

The following particulars are available on record :

(i) Mr. Tata paid Rs. 8,000 premium on his friend’s life policy in the previous year.

(ii) Paid Rs. 45,000 of tuition fees for his son in the previous year on the full time education.

(iii) Mr. Tata has kept in his occupation free of rent half portion of company’s premises at

Chennai. Annual rent of the building is Rs. 2,00,000.

(iv) He has contributed Rs. 45,000 to a Recognised Provident Fund and has paid premium

amounting to Rs. 1,80,000 on a life policy of Rs. 8,00,000 taken on 28th January, 2011.

(v) He took an advance salary of Rs. 1,00,000 in March, 2019. He spend rs 30000 on his brother medical. computer his taxable income​​

Answer 1

Answer:

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