‘TION ind requests the employer to call fee under the head: gains from Business and Profession other Sources salary of %2,80,000 to his employee G and undertakes to pay the Income Ta the previous year 2020-21 on behalf of G. The gross Salary of G shall be. Une © ‘on 1.7.2014 in the grade of %15,000-400-17,000-500-22,000. His. gross salary for the 021-22 shall be: I from 1.8.2017 in the grade of €15,000-400-17,000-500-22,000 and his salary was fixed at @ date of joining. His gross salary for the assessment year 2021-22 shall be: Ss of %15,000 p.m., took an advance of %40,000 against the salary in the month of a Toss salary of R for assessment year 2021-22 shall be: of %20,000 p.m. took advance salary from his employer for the months of April ary of March 2021 on 31.3.2021. The gross salary of R for assessment year732 ‘Systematic Approach to Income tax ©) 225,000 (©) any of above two, a the option ofthe employee D) none of the above March 2020 itself: The gross salary of R for assessment year 2021-22 sha (A) 860,000 (8) &,70,000 (C) determined on the basis of option which he exercised last year () none ofthe above 49° Salary of R becomes due on Ist of 1 2021-22, the salary of R shall be taken fro (A) April 2020 to March 2021 (B)_ March 2020 to February 2021 (©) Any of the above atthe option of the employer {D) None of these R who was working with another company joined the present employer w.e-f. 1.5.2020 at a Salary of 820,000 p.m. His salary becomes due on fist of next month. He was also entitled to a pension of 2099 Pam. from his former employer as he retired on 31.3.2020. His pension is taxable on due bass. His grog 22 shall be: and itis paid on 7th of that month. For assessment yeae (©) none of the above 4.11 The Government of India announced increase in the D.A on 15.3.2020 with retrospective effect fom 1.52015 and the same were paid on 6.42020, The arrears of D.A. shall be taxable in the previous year (A) 2019-20 ®) 2020221 (©) imrespective previous years to which these relate (D) which the employee may opt. 4.12 Gratuity shall be fully exempt in the case of: (A) Central and State Government employee (B) Central and State Government employees and employees of local authorities (© Central and State Goverment employee, employee of local authorities and employee of sanary 413 An employee is covered under Payment of Gratuity Act, 1972: a ag 15 days salary for each completed year of service shall be (B) average Salary of last 10 months (©) average Salary of last 3 completed years (D) average salary of last 12 months Gi) Salary forthe above purpose shall (A) ‘include deamess allowance and fixed percentage of commission fon tumover achieved by (©) include dares llowanosto the exten! the terms of employee provi (©) include dares allowance but shal nine conan eeIncome under the Head "Salaries" oe employee has completed service of 16 years 6 months and 5 days, the number of completed years en as: years 6 months and S days 16 years and 7 months he has completed exactly 16 years and 6 months, the completed year shall be: » Years fears Years and 6 months. any of the above ‘of computing 15 days’ salary, the number of days in a month shall be taken as: is neither a Government employee nor covered under Payment of Gratuity Act, 1972. ‘purpose of calculating half month shall be taken a Salary salary of 10 months preceding the month of retirement ofeach completed year ‘of last 3 completed years ‘deamess allowance and fixed percentage of commission on tumover deamess allowance ‘deamess allowance to the extent the terms of employment ‘commission on turnover achieved by the employee allowance to the extent the terms of emplo734 ‘Systematic Approach to Income tax r was entitled to the gratuit 418. R, who claimed the exemption of gratin the pas to the extent of &3,00,00, was en ty from the present/second employer amounting to 6,00,000 in the previous year 2020-21 as he retired on 25.10.2020, R shall be entitled to exemption to the maximum extent of: (A) 27,00,000 ®) Nil (©) 26,00,000 (D) 220,00,000 416 R worked with a previous employer for 3 years but was not entitled to any gratuity. He worked with the Present employer for 8 years and 7 months, The completed years of service for calculating exemption of {gratuity shall be taken as (A) 11 years (B) 8 years (©) years, (D) 12years 4.17 For purpose of calculating exemption of gratuity, salary shal include: (A) fixed commission (B) commission if it isa fixed percentage on turnover (©) both fixed commission and commission as fixed percentage of turnover (D) none of the above three 4.18 Un-commuted pension received by a Government employee is (A) exempt (B) taxable (©) partially taxable {D) none ofthe above 4.19 Commuted pension received shall be fully exempt in case of: (A) Government employee (8) Govemment employee or an employee of local authority (©) Government employee or an employee of local authority or an employee of statutory corporation (D) Allemployees A (An employee was also ented to gratuity. He got 60% of his pension commuted and received @ sum of 212,00,000 as commuted pension. The exemption in his case shall'be (A) %12,00,000 (8) %4,00,000 (©) %6,66,667 () 210,00,000 Gi) What shall be exemption it he was not entitled to any gratuity? 421 gimployee who was not ented to gratuity, got 30% of his total pension commuted in the past. He puldee to commute another 25% of his total pension inthe previous year, He shall beeen exemption to the extent o (A) Nil (B) 20% © 25% (D) 3.33% 4.22, Encashment of leave salary atthe time of retirement (A) Central Government employee (B) State Government employee (©) Both Central and State Government employees (D) Government employee and employee of local authority, is fully exempt in the ease of:Tncome under the Head "Salaries" bee Brora which wil be included inthe meaning of salary for encashment of eave salary to other es allowance to the extent the terms of employment so provide ble allowance ced commission om if fixed percentage on turnover Percentage of commission on or exemption of le drawn Salary Salary of 10 months immediately preceding the month of retirement Salary of 10 months immediately preceding the date of retirement, ay of the above imum exemption in case of leave encashn profits, re encashment shall be taken as shall be: availed the exemption of leave encashment of €1,00,000 in the past. He received from the mployer a sum of 82,50,000 as encashment of leave, He will be entitled to exemption to the extent in Ghaziabad, ‘exemption ifthe rent is paid for a house in ¢ exemption if the employee opts to be taxed wis IISBAC? hich will be included in the meaning of salary for736 ‘Systematic Approach to Income tax (H) Fixed percentage of commission on net profits (Bonus () Taxable allowances 4.30 (i) A is entitled to Children education allowance @ 880 p.m. per child for 3 children amounting 2240 p.m, It will be exempt to the extent of: (A) 200pm (8) %160pm © 20pm. () Nil (Gi) What shall be your answer if A exercises the option wis 11SBAC? 4.31 (i) R is entitled to Hostel expenditure allowance of 2600 p.m. for his 3 children @ %200 per child, The exemption in this case shall be: (A) 2600 p.m. (B) 2400 p.m. © Boopm. () Nil Gi) What shall be your answer if R exercises the option wis 11SBAC? 432 () R is entitled to a transport allowance of 21,800 p.m. for commuting from his residence to office and back, He spends 81,400 p.m. The exemption shall be: (A) 21,800 pam. (B)_21,600pm. (© 21400 pm. () Nil (Gi) What shall be your answer if R exercises the option w/s 115BAC? 4.233.) Ris entitled to 86,000 as medical allowance He spends %4,000 on his medical treatment and 21,000 on the medical treatment of his major son not dependent on him. The exemption in this case shall be: (a) 34,000 (B) 25,000 © Nil () 26,000 (ii) What shall be your answer if R exercises the option wis 11SBAC? 4.34 () R is an employee of a Transport Company. He is entitled to transport allowance of 10,000 pm. He spends 24,000 every month. The exemption shal be: (A) 210,000 pm (B) %4,000pm. (© %7,000pm. ©) Nil (Gi) What shall be your answer if R exercises the option wis 11SBAC? 435 Match the exemption in the following case, if option wis 11SBAC is not exercised: 1. _ | Children education allowance 1 Hostel expenditure allowance Tribal area allowance 3300 per month per child for maximum of two children 2100 per month per child for maximum two children 32,600 pam. ‘Transport allowance 2200 p.m. ‘Compensatory field area allowance | 5, [Nil (Counter insurgency allowance [Allowance to transport employee 70% of allowance maximum 210,000 p.m. 3,900 p.m.‘Income under the Head "Salaries" Ber allowance in case of Government employee is exempt taxable upto certain limits mentioned in section 16(i/) “first included in full in gros Salary and thereafter deduction allowed from gross salary under section 16d) (Gi) What sall be your answer it the employee exercis Healing deduction of entertainment allowance, if option wis L1SBAC is not exercised, Government aes tues: (A). Central and Sate Government employee {B) State Government Employee (©) Central and State Government Employees and employees of local authority (0) Céniral and State Government employees, employees of local authority corporation the option ws LISBAC? nd employees of statutory wedical expenses incurred by him table perquisite in this case shall be: shall be your answer ifthe employce exercises the option ws 11SBAC? BR, wife of R who is employed in G LID went for bypass sur rgery in England alongwith her pispenses on medical treatment of wife and stay outside India of wife and R amounted to s. The travel expenses amounted to 21,50,000, ‘ere reimbursed by the employer. Assume the gross salary and income from other sources of fare &1,40,000 and 240,000 respectively. The taxable perquisite in this ease shall be be your answer if Mrs R exercises the option ws 11SBAC? is entitled to standard deduction from his gross salary amounting to: salary subject to the maximum of 250,000 answer if the employee exercises the option wis | SBAC?738 () Bonus (&)_ Commission fixed amount (Commission fixed percentage on tumover: (G) Taxable allowances (Entertainment allowance ()_Bmtertainment allowance after allowing deduction under section 16() () Employer contribution to recognized provident fund exceeding 12% of salary (K) _Injerest on recognized pro (L)_ All perquisites (M)_ Gas electricity bill paid or reimbursed by employer () Facility of Gas, Electricity, te (©) Advance Salary (P) Arrears of salary @ ‘Systematic Approach to Income tax ident funxl exceeding 9.5% pa. lary received from second employer with whom he i also working on part time basis, \ 3% Salary of employee is $2,00,000, Fair rent ofthe unfurished house situated in Delhi given to employee is 21,30,000. The valuation ofthe perquisite ofthe house () In case of Govern (A) 20.000 (B) License fee determined by the Government (©) 350,000 ©) 230,000 Ui) In case of any other employee: (A) %40,000 (®) 20,000 © %130,000 @) 230,000 444 The employee is provided with furniture costing €1,50,000 alongwith house we, 1.7.2020. The value of the furniture to be included in the valuation of unfurnished house shall be: (a) 11,250 (®) 215,000 (© 22500 (D) 163875 (JAS i Salary of an employee is ®2,0,000. Rent paid by the employer for the unfurnished house provided to employee at Moradabad is %3,000 p.m. The employer charges %2,000 p.tn. as rent from the employee, The valuation of this perquisite shall be: (A) 16,000 (B) 26,000 (©) 212,000 ©) Nil ent Employes all be: (ii) What shall be your answer if the employee exercises the option ws 11SBAC?. 4.46 (i) A car of 1500 ce is provided by the employer, to the employee whose salary is £20,000 pm. The ear is used by him partly for official and partly for his personal purposes. The expenses of running and maintenance for official purpose is met by the employer and the expenses of running and maintenance for private use is met by employee himself. The valuation of this perquisite shall be: (A) Nil (B) 2,800 p.m. “s (©) 2600 p.m. aeIncome under the Head "Salaries" 739 (py 22400 pm. {i What shall be your answer if the employee exercises the option u/s I1SBAC? {i An employer has provided a motor ear of 1.5 liter capacity to his employee which the employee is allowed t0 use for official purpose and for travelling from office to residence and back, The expenses of running and maintenance of Motor Car are met by the employer, The value of this perquiste shall be (a), 81,800 p.m. (B) 2600 pm. (o) Nil (0) £2400 pm What shall be your answer ifthe employee exercises the option w/s 11SBAC?. (Ris provided with a car of 1.6 liter capacity by the employer X Ltd. alongwith driver. The expenses of running and maintenance of car are met by R himself. Besides using the car for official purposes, R uses the car for his personal purposes also, The valuation of the perquisite of car shall be (a). ¥7,200 (8) €18,000 (©) U0,800 (0) Nil (i) What shall be your answer ifR exercises the option ws I1SBAC? (})Rean employee, owns a car which he uses for his private as well as official purposes. The expenses of running and maintenance of the car is met by the employer. The perquisite shall (A) be taxable in case of specified employee only (8) betaxable in case of an employee other than specified employees (©) betaxable case of specified and non specified employee (©) notbe taxable (i) What shall be your answer if R exercises the option ws 11SBAC? () Ris an employee of Indian Oil Corporation Ltd. He is provi bythe employer, The value ofthis perquiste shall be: (4) nil (8) 61/4% of the salary (©) manufacturing cost per unit ©) rate of gas be your answer if R exercises the option wis 11SBAC? in which he lives. His employer reimburses to him the elect sd with free gas for his personal purposes tricity bill amounting to‘systematic Approach to Income tox ee sees Tanity of Watchman, Sweeper and Gardnet 0 hie empIoYeS Iwill bea 4.53. i) The employer pro pesgaisite for: (A) specified employee only (B) employees other than specified employees {C) _ specified as well as other employees 1D) none ofthe above employees ee yer mner ie empaye exercise opin ws 11SBAC? shall be: 4.54.) The valuation ofthe perquisite in the above (A) actual wages paid 0 each servant (B) 8120 pam. per serv (€) 260 pam. per servant ©) Nil {i What shall be your answer if th 4.55 i) R Ltd. provides the facility o ‘The valuation of this perquisite shall be (A) 120p.m (B)_U1,000 p.m © W6Opm ©) Nil ii) What shall be your answer if the employee exercises the option ws 1ISBAC? 456 (i) The Gardin snployed by the employee but their salary of 8500 p.m. per person is paid by the employer. The valuation of this perquisite shall be: (a) &4320 (B) 218000 ©) 21,960 (0) 36,000 (Gi) What shall be your answer if the employee exercises the option ws 115BAC? 4.57 (i) R Lid. has taken a house on rent which has been provided to its employee along with the Gardner. The Gardner Salary paid shall be (A) tax free perquisite (B) taxable to the extent of 8120 p.m. (© fully taxable (D) tax fie perquisite but will be added to the fair rental value (Gi) What shall be your answer ifthe employee exercises the option w/s 11SBAC? | 4.58 () Employer's contribution to statutory fund shall be: J (A) fully exempt (B)_cxempt upto 12% of salary (©) exempt upto 10% of salary (D) Taxable (Gi) What shall be your answer if the employee exerci jon 4.59 (i) Interest credited to statutory ae Shallbe: eae e exercises the option ws 11SBAC? aid %1,000 p.m. as salary tothe cook. = Sweeper and the wa (A) fully exempt (B) exempt upto 8.5% (C) fully taxable (D) exempt upto 9.5% (i) What shall be your answer if the employee exercises the option ws I1SBAC?Income under the Head "Salaries" 7a 4.60. (i) Employer's contribution to recognized provident fund shall (A) fully exempt (B) fully taxable (©) exempt upto 12% of salary (D)_ exempt upto 10% of salary (i) What shall be your answer ifthe employee exercises the option ws 11SBAC? (i Interest credited to recognized provident fund shall be: (A) fully exempt (8) filly taxable (© exempt upto 9.5% pa (D) exempt upto 8.5% pa. {Gi) What shall be your answer ifthe employee exercises the option ws 11SBAC? {) Employer's contribution to unrecognized provident fund shall be: (A) filly wxable ) fully exempt “exempt upto 12% of Salary ) neither exempt nor taxable in the year of contribution. shall be your answer if the employee exercises the option w/s 11SBAC? 4,63 (i) Interest credited to unrecognized provident fund shall be: (A) filly taxable (B) fully exempt (©) exempt upto 9.5% pa. (©) neither exempt nor taxable in the year of accrual i) What shall be your answer ifthe employee exercises the option ws 11SBAC? 4.64 (i) Employee’s/assessee’s own contribution to statutory provident fund or recognized provident fund or ‘public provident fund shall be subject to: (A) deduction under section 80C (B) deduction under section 80CCC shall be your answer if the employee exercises the option ws 11SBAC? oyee"s contribution to unrecognized provident fund shall be subject to: ‘be your answer if the employee exercises the option ws 115BAC? statutory fund and public provident fund shall be:742 ‘Systematic Approach to Income tax 4.68 Payment from recognized provident fund before S years shall be: (A) filly taxable (B), fully exempt shall be treated as if the fund was unrecognized right from beginning (D) none of the above 4,69. Payment from unrecognized provident fund shall be: (A) filly taxable (B) fully exempt we s ae a the inter easel ‘contribution shall be taxable under the head other sources 470 The yearn sch umcogizd poe fice noize provident fd (A) he employe contin ida and inet toon al table (8) be enplye cnn da all be table AO) twill be assumed as ifthe provident fund was recognized right from beginning and excess amount of ‘employers contribution and interest thereon shall be chargeable to tax (D) none of the above 4.71 R is entitled to salary of %10,00,000 p.m. The employer contributes 12% of salary to the employees recognised provident fund, Suh contribution by the employer shall be: (A) exempt to the extent of 10% of salary ®) fully exempt AC) filly exempt but the contribution by the employer exceeding 7,50,000 i.e. 6,90,000 shall be taxable as perquisite in the hands ofthe employee (D) filly exempt but the contribution by the employer exceeding 10,00,000 i.e. 4,40,000 shall be taxable as perguisite in the hands ofthe employee 4.72 R is entitled to salary of 210,00,000 p.m. The employer contributes 14% of salary to the employees recognised provident fund. Such contribution by the employer shal be: (A) exempt tothe extent of 10% of salary (B) exempt tothe extent of 12% of salary AO _exempr to the extent of 12% of salary but the contribution by the employer exceeding 27,50,000 i. 9,30,000 shall be taxable as perquisite inthe hands ofthe employee (D) exempt to the extent of 12% of salary but the contribution by the employer exceeding €1 i 680.00 shall be taxable as perqisitein the hands ofthe employee ae. 433 (i Ris entitled to a watchman allowance of 2600 p.m. for the security of his residence. He pays 2500 p.m. to the watchman employed by him. The taxable allowance shall be: (A) U20pm ®) 2100p. 2) 2600 p.m. ) Nil (Gi) What shal be your answer if R exercises the option ws 115BAC? 474 OE with a rent free accommodation owned by his employer in Delhi. The value of this (A) 20% of salary 1) 15% of salary (©) 10% of salary (D) 75% of salary 2001 census?Tncome under the Head "Salaries" uae) feeapolcrau? ‘your answer if the accommodation is provided in a city having population of 15 lakhs as 4.7 (i) R is provided with a rent free accommodation in Delhi which has been taken on rent by the employer. ‘The value of this perquisite shall be: z os (A) 15% of salary LB} 15% of salary or rent paid or payable whichever is lower (©) 20% of salary or rent paid or payable whichever is lower ()_ 7.5% of salary oF rent p: (Gi) What shall be your d or payable whichever is less ‘answer if the accommodation is provided in a city having population of 8 lakhs as 4.76 (@ Ris provided with interest free loan by the employer for purchase of a house. The value of this perquisite shall be determined as the sum equal to (A)_ simple interest computed @ 10% pa LGB) simple interest computed at the rate charged by SBI on Ist day of the relevant previous year on the ‘maximum outstanding monthly balance (©) simple interest computed at the rate charged by SBI on last day of the relevant previous year on the maximum outstanding monthly balance ) Nil (G) What shall be your answer ifthe loan is given for purchase of a car? (Gi) What shall be your answer if the loan is given for marriage of R's son? se Gopi stat be your answer i the loans given for medical treatment of disease specified in rule 3A? ()What shall be your answer if the amount of loan does not exceed 220,000 in aggregate? 4.77 (Tea and snacks are provided by X Ltd, to employees in the office during office hours. The value ofthis ste if option wis 11SBAC is not exercised, shall be: “ay Nil B) Nil ifit is upto £50 per meal (© Actual amount spent by the employer less amount recovered from employee if any (D) Nil, ifitis upto 2100 per day (Gi) What will be your answer if tea and snacks are provided in the office after office hours? 478 (ii) What will be your answer if instead of tea and snacks, meal is provided in the office or factory2(i) Tea and snacks are provided by X Ltd. to employees in the office during office hours. The value of this pperquiste, ifoption w/s 11SBAC is exercised, shall be: Nil ®B)_ Nil, ifitis upto 250 per meal (©) Actual amount spent by the employer less amount recovered from employee if any (D) Nil ifitis upto 100 per day (Gi) What will be your answer if tea and snacks are provided in the office after office hours? (iii) What will be your answer if instead of tea and snacks, meal is provided inthe office or factory? 4419 (i) The employer X Ltd. gives « gift (in kind) on the marriage ofthe son ofthe employee. Gift so made shall ‘not be perquiste if the value of the gift is: 6,000 or less - Below %5,000 10,000 or less 210,000 ee i ‘be your answer ifthe gift is made to the employee on the silver jubilee ofthe company? hhas given a lap top computer for the use of the employee. The value ofthis744 aye v 432 433 434 4.85 An employer has made a gift of Titan Watch worth 212,000 to his 4.86 487 Systematic Approach to Income tax (B) 10% pa. of the cost of the asset (©) 10% pa of the W.D.Y, of the asset (D) 18% of the WDV of the asset (Wi) What will be your answer if this lap top is given forthe personal use of the son of the employee? Aid) What will be your answer if instead of computer a video camera is given for the personal use of employer or any member of his household? (0 The employer had purchased a car for €3,00,000 which was being used for official purposes. After 2 year ‘6 months ofits use, the car is sold to R, the employee, for %1,20,000. The value of this perquisite shall be AA) 272,000 (8) %60,000 © Nil : ()%1,20,000 (a) What will be your answer if instead of car, the asset purchased is a computer? (ii) What willbe your answer if the asset is neither ear nor any computer? () Ris employed with $ Ltd, He is provided with motor car of 1.4 lis capacity by the employer which he hhas used partly for official purposes and partly for private purposes. The expenses of running and ‘maintenance of motor car is also met by employer. Such facility shall: (A) bea perquisit in the hands ofthe specified employee (B)_notbe a perguiste (©) bea perquisite in the hands of both specified and non-specified employee (D) bea perquisite in the hands of non-specified employee (ii) What shall be your answer if R exercises the option wis 11SBAC? (@) The value of the above perquisite of motor car taxable inthe hands of the employee shall be: (A) 2.800p.m. B) %600pm (©) %2400p.m. ©) Nil (Gi) What shall be your answer ifR exercises the option ws 11 BAC? (0 An employer has provided free meal worth 2110 per meal for 300 days in the office, during office hours, to his employees who do not exercise option u/s 11SBAC. Such facility provided to the employees shall (A) _be a perquisite inthe hands ofthe employees and taxable @ 60 per day for 300 days (B) be atax free perquisite in the hands of the employees (©) be atax free perquisite inthe hands ofthe employees but lable to FBT in the hands ofthe employer (D) fully taxable in hands of employee (Gi) What will be your answer, if option ws 11SBAC is exercised? ‘employee, Such gift shall: (A) _beaperquisite in the hands ofthe employee and the value of such perquisite shall be 212,000 (B) bea perquisite and the value of such perquisite shall be 27,000 (©) not be a perquisite (D) bea perquisite and the value of such perquisite >be 82,000 An employee availed the exemption of leave encashment of 81,40,000 in the second employer a sum of 82,50,000 as encashment of leave. He will be extent of €2,50,000, Compensation received at the time of voluntary retirement is ‘maximum extent of 83,50,000, as be ae b nxable is emp xis In fo the a9 Ris emp which be assessme Profits i Compens chargeab Compens ‘profits i Employe inwhich Bonus re employe "Overt Rid p amount746 ‘Systematic Approach to Income tax 4.114 Shares given to the employee free of cost or at concessional price under Employees Stock Option Plan is a 4.115 Use of health club. sports and similar facilities provided uniformly to all employees is (__Aers to mp hoice questions) 4. 431 BGO) 460 HO,GXC) 487 ®) 42° @) 432 OGD) 461 (O,GINC) 4.88 ©) 43° © 433 IO.GO© 4.62 (iD), (ii(D) 489 (F) 44° © 434 (©), (i) O) 4.63 (iD), (ii(D) 490 (T) 45° @B) 435 (1&2), (2&1), 4.64 (iA), (iD) 491 ) 46 @) 384,485), 465 OGIO) 492 ® 47 (A) 583), &D)& — 466 (B) 493) 48 (B) 7&6) 467 (B) 494 (F) 49 (@B) 436 (i) (D), (ii) (B) 468 (©) 495 (F) 410 © pola) 469 (D) 496 (F) 4.11 (B) 438 (A), GCA) 4.70 (©) 497 ADD) 42 @) 439 ()O, (iC) an © 498) 43 Oca, 440 eB ons no omen (NB), (VA), HO), Gi MG OB. 482 AOD, 32 ee eg att e 4.14 (HB), (XC), (F), (G), (H) & © 2 m At GiB), (XC) @ ies 4.102) 415 © 443 (9B), (ID) O®), 8) 4103) 4.16 (A) 444° (A) ao aes 4.104 (T) 417 @) 445° (XB), GiB) COO) 4.105. 22,92,080 418 @) 446 HOG 477 ea. anqay, 4108 82.0700 419 © 447 (HO, GNC) Gin 4.107 &1,80,000 420 (10), xD) 448 B). NB) 4.78 (aay, Garyay, 4-108 taxable 421 (By 449 VC), (iC) (ix) 4.109 18,000 42 © 450 (NC), GiXO, 4.79 (CB), (iB) 4.110 employer and 423 Bae 451 WOGO) 4.80 GA), GLAD, employee 424 © 452° (10, inc) iy) 4.111 manufacturing 425 © 453° GVA) LNA) «4.81 LA), CANO), cost per unit 426 (C) 454 (IMA), (iA) (iii(D) 4.112 two; four 427 © 455° (i)(B), (i(B) 4.82 (iA), (ica) 4.113 %50 428 (iB), (iA), (iit) 456 (YB), (iB) 4.83 (IA), (ii(A) 4.114 taxable perquisite ©) 457 (XC), Gis) 4.84 (H(A), (i(D) 4-115 tax free perquisite 429 (A), (ERG) 4.58 (IMA), (iia) 485 (B) 430 @ B,D) 4.59 (KAN Gina) 4.86 (F) 1.S is alectrerin a college. Following ae the deals of veer s for the previous year 2020- Basic salary @ £34,000 pm. Deamess allowance @ 212,000 pin. Ciy orn en oat eS = ogg CY Compensatory allowance 212,000, He is a member of statutory provident fund to which he contributes 10% f 9 % of his salary, the college contri !n equal amount. During the previous year he spent €12,000 on books pussies” being papoer and oe | + For solutions to these Practical Questions, refer 22), by the same authors. meses Apmonh to Diet nd Indie Taxes Problems & Solins), (AY, 202