Question

Q1 Mr. Uma Shankar is employed by a XYZ Ltd., Kolkata. From the information

given below find out net income and tax liability of Mr. Uma Shankar for the

assessment year 2019-20 –

Basic salary: 85,520 per month, commission at the rate of Rs. 13,225 per

month, dearness allowance Rs. 48,000 per month (3/4 is part of salary for computing

pension but only 60 percent is part of salary for computing other retirement benefits,

like provident fund, gratuity etc.), house rent allowance Rs. 18,500 per month and

tiffin allowance Rs 14,000 per month (but only with effect from February 2019).

He resides in rental accommodation at 14/2 Motilal Basak Lane, Girish Park, Kolkata

(rent being Rs. 21,150 per month). He contributes 14,000 per month towards

Recognized Provident Fund. Contribution by the employer is not more than 12% of

salary. Provident fund interest is credited is at the rate of 18.25% which comes Rs.

4,25,000 for the previous year.

He pays life insurance premium on the life of his daughter-in-law (annual insurance

premium being Rs. 29,520, sum assured Rs.10,00,000). His income from long term

capital gain is Rs. 79,500. Besides he gets family pension of Rs. 1,440 per month in

previous year.​

Answer 1

Answer:

جبده و در این نزدیکی است حکیم ارد بزرگ