Mr. Rahul is a production manager of an industry at Mumbai. The particular of his...
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Accounting
Mr. Rahul is a production manager of an industry at Mumbai. The particular of his salary income are given below: (i) Basic Salary .15,000 p.m. (ii) DA. 5,000 p.m. (which enters the retirement benefits as per the terms of employment) (iii) Entertainment allowance .1000 p.m. (iv) City Compensatory allowance .1200 p.m. (v) Medical Allowance 2.800 p.m. (vi) House Rent Allowance . 4000 p.m. (vii) Rent paid for the house . 5000 p.m. Small car provided by employer for private and official use. Employer meets all expenses of car He and his employer (each) contribute 15% of salary to P.F Compute income under the head salary for the assessment year 2020-2021.of Mr.Rahul (viii) (ix)
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