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Question
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How to solve this question
Mr. Ratan lal is the manager of a company in Agra. He receives ₹12000 p.m. as basic pay and ₹3000 as dearness allowance
a) He owns his house but the company has provided him the following amenities.
I) a gardener, a sweeper, a watchman and a domestic servant each of whom are paid rs₹ 1050 per month
II) free use of the refrigerator costing rs₹38400 from September 2017.the company incurred ₹1200 on repairs during the previous year.
b) His followning obligations were paid by the company.
I) Gas, electricity and water bill amounting to ₹ 3000
II) annual membership fee to lions club ₹1800
c) The company has provided him the facility of a 1.8 litres car. The car is used for private purposes also and all expenses including the driver salary are borne by the company.
d) his son is studying in a school run by the company. The annual Expenses incurred by the company is ₹11000 per student. Had he been sent for education to a similar school in Agra. A sum of ¢8500 would have been spent during the year
e) Mr. Ryan lol employer gave him a watch valued at ₹4800
F) he proceeded on one month leave to shimla where he stayed in holiday home maintained by the company. The expense of his boarding and lodging amounting to ₹6000 were borne by the company.
Compute his taxable income from salary for the assessment year 2018-2019
Mr. Ratan lal is the manager of a company in Agra. He receives ₹12000 p.m. as basic pay and ₹3000 as dearness allowance
a) He owns his house but the company has provided him the following amenities.
I) a gardener, a sweeper, a watchman and a domestic servant each of whom are paid rs₹ 1050 per month
II) free use of the refrigerator costing rs₹38400 from September 2017.the company incurred ₹1200 on repairs during the previous year.
b) His followning obligations were paid by the company.
I) Gas, electricity and water bill amounting to ₹ 3000
II) annual membership fee to lions club ₹1800
c) The company has provided him the facility of a 1.8 litres car. The car is used for private purposes also and all expenses including the driver salary are borne by the company.
d) his son is studying in a school run by the company. The annual Expenses incurred by the company is ₹11000 per student. Had he been sent for education to a similar school in Agra. A sum of ¢8500 would have been spent during the year
e) Mr. Ryan lol employer gave him a watch valued at ₹4800
F) he proceeded on one month leave to shimla where he stayed in holiday home maintained by the company. The expense of his boarding and lodging amounting to ₹6000 were borne by the company.
Compute his taxable income from salary for the assessment year 2018-2019
