Question

Shri Vishnu is employed in Mumbai. Particulars of his income for the previous year 2019-2020 are

given below :- Basic Salary `25,000 per month; D.A. `5000 per month (40% is computed for retirement benefits);

Bonus `20000 per annum; Commission `15000 per annum; Entertainment Allowance `3000 per

month; Employer has paid personal loan of Vishnu of `7000. Fair Rental value of rent free house

provided by the employer `1,00,000 per annum. Value of furniture provided `2,00,000. Find out

Shri Vishnu’s income from salaries for the assessment year 2020 – 2021​

Answer 1

Explanation:

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