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Mr. X retired from the services of M/s Y Itd. On 31.02.2021, after completing a service of 30 years and 1 month. He had joined the company on 1.1.1991 at the age of 30 years and received the following on his retirement : a. Gratuity Rs. 6,00,000. He was covered under Payments of Gratuity Act, 1972. b. Leave encashment of Rs. 3,30,000 for 330 days leave balance in his account. He was credited 30 days leave for each completed year of service c. The company also transferred a car to him which was purchased on 1/2/2018 by the company for R 5,00,000. The company has recovered Rs. 2,00,000 from Mr. X for the car. Company depreciates th vehicles @ 15% on Straight Line method. d. An amount of Rs. 3,00,000 as commutation of pension for 2/3 of his pension commutation e. Company presented him a gift voucher of Rs. 6,000 on his retirement Following are the other particulars: He has drawn a basic salary of Rs. 20,000 and 50% as DA (forming part of retirement) per month for the period from 1.04.2020 to 31.01.2021 Received pension of Rs. 5,000 per month for the period 1.02.2021 to 31.03.2021 after commutation of pension. Determine his taxable income u/h salary for the AY 2021-22 under provisions of Income tax act, 1961.