Question

Mrs Laxmi aged about 66 years is a Finance manager of Tarmi d. Co. Put ltd. onsed at kolkata, She has been in continuous service since 1979. She is receiving the following emoluments from the company durine the vear engine on 31-3-2020. Particulars Amount Basic Pay DA (R/B) Bonus month 2.000/ month 2 months Basic Pay Commision on O 0.1% Turnover for FY 2019-20 I5 crores Employer's contribution to RPF Account 3.00.000 Employce's contribution to RPF Accoun 3.00.000 Interest credited to RPF Account at 9.5% 60.000 RFA (Rent paid by company 70,000 p.a) Tentertanment Allowance 30.000 D.a Children Hostel Allowance (for three children) 5000 p.a each Laxmi makes the following payments and investments Premium paid to insure the life of her m8ior son 15,000 Medical Insurance premium (eligible Tor deduction us SUbor soland 5000+5000 Calculate tax liability for the relevant AY​

Answer 1

Answer:

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Answer 2

Answer:

3.00.000 Interest credited to RPF Account at 9.5% 60.000 RFA (Rent paid by company 70,000 p.a) Tentertanment Allowance 30.000 D.a Children Hostel Allowance (for three children) 5000 p.a each Laxmi makes the following payments and investments Premium paid to insure the life of her m8ior son 15,000 Medical Insurance premium (eligible Tor deduction us SUbor soland 5000+5000 Calculate tax liability for the relevant AY