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From the following particular find out the taxable salary of Mr.ramesh working at Trichy (population more than 4lakhs) A. Salary rs 12,000p.m B. D.A rs 1500pm C. Rent free accommodation whose fair rental value rs.80,000 p.a D. employer's contribution to RPF 14 percentage of salary E. Interest on PF balance at 13 % per annum rs .3,900 F. Professional tax paid rs 2,000. G. Medical allowance received rs 500 per month F. Arrears of salary rs .13200?
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From the following particular find out the taxable salary of Mr.ramesh...
Taxable Salary Calculation for Mr.Ramesh

Salary Components:

A. Basic Salary: Rs. 12,000 per month
B. Dearness Allowance (DA): Rs. 1,500 per month
C. Rent-Free Accommodation: Fair rental value Rs. 80,000 per annum
D. Employer's Contribution to RPF: 14% of Salary
E. Interest on PF Balance: Rs. 3,900 per annum
F. Professional Tax Paid: Rs. 2,000 per annum
G. Medical Allowance Received: Rs. 500 per month
H. Arrears of Salary: Rs. 13,200

Taxable Salary Calculation:

1. Gross Salary:

Basic Salary + Dearness Allowance = Rs. 12,000 + Rs. 1,500 = Rs. 13,500 per month

2. Value of Rent-Free Accommodation:

Fair Rental Value of Rent-Free Accommodation per annum = Rs. 80,000

Value of Rent-Free Accommodation per month = Fair Rental Value / 12 = Rs. 80,000 / 12 = Rs. 6,666.67 per month

3. Total Salary:

Gross Salary + Value of Rent-Free Accommodation + Arrears of Salary = Rs. 13,500 + Rs. 6,666.67 + Rs. 13,200 = Rs. 33,366.67 per month

4. Deductions:

a. Employer's Contribution to RPF: 14% of Salary = 14% of Rs. 13,500 = Rs. 1,890 per month
b. Professional Tax Paid: Rs. 2,000 per annum = Rs. 166.67 per month

Total Deductions = Rs. 1,890 + Rs. 166.67 = Rs. 2,056.67 per month

5. Taxable Salary:

Total Salary - Deductions = Rs. 33,366.67 - Rs. 2,056.67 = Rs. 31,310 per month

Thus, the taxable salary of Mr. Ramesh working at Trichy is Rs. 31,310 per month.
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From the following particular find out the taxable salary of Mr.ramesh working at Trichy (population more than 4lakhs) A. Salary rs 12,000p.m B. D.A rs 1500pm C. Rent free accommodation whose fair rental value rs.80,000 p.a D. employer's contribution to RPF 14 percentage of salary E. Interest on PF balance at 13 % per annum rs .3,900 F. Professional tax paid rs 2,000. G. Medical allowance received rs 500 per month F. Arrears of salary rs .13200?
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From the following particular find out the taxable salary of Mr.ramesh working at Trichy (population more than 4lakhs) A. Salary rs 12,000p.m B. D.A rs 1500pm C. Rent free accommodation whose fair rental value rs.80,000 p.a D. employer's contribution to RPF 14 percentage of salary E. Interest on PF balance at 13 % per annum rs .3,900 F. Professional tax paid rs 2,000. G. Medical allowance received rs 500 per month F. Arrears of salary rs .13200? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following particular find out the taxable salary of Mr.ramesh working at Trichy (population more than 4lakhs) A. Salary rs 12,000p.m B. D.A rs 1500pm C. Rent free accommodation whose fair rental value rs.80,000 p.a D. employer's contribution to RPF 14 percentage of salary E. Interest on PF balance at 13 % per annum rs .3,900 F. Professional tax paid rs 2,000. G. Medical allowance received rs 500 per month F. Arrears of salary rs .13200? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following particular find out the taxable salary of Mr.ramesh working at Trichy (population more than 4lakhs) A. Salary rs 12,000p.m B. D.A rs 1500pm C. Rent free accommodation whose fair rental value rs.80,000 p.a D. employer's contribution to RPF 14 percentage of salary E. Interest on PF balance at 13 % per annum rs .3,900 F. Professional tax paid rs 2,000. G. Medical allowance received rs 500 per month F. Arrears of salary rs .13200?.
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