Mr. Raj Anand is working as a marketing manager in a company in Mumbai. Particulars of his salary for the assessment year 2012-13 are as follows: Basic salary 15,000 p.m. Bonus-20% of salary Conveyance allowance - 2,500 p.m. (80% spent on official duty) Entertainment allowance-3,000 p.m. Employers contribution to recognized provident fund 15% of salary He has been provided with a house by the company for which a sum of 71200 p.m. is Beducted from his salary. The company pays a rent of 7 6,000 p.m., for this house directly to the andlord. Compute the taxable value of concessional house to be included in the salary of Mr. Raj Anand.

Mr. Raj Anand is working as a marketing manager in a company in Mumbai. Particulars of his salary for the assessment year 2012-13 are as follows: Basic salary 15,000 p.m. Bonus-20% of salary Conveyance allowance - 2,500 p.m. (80% spent on official duty) Entertainment allowance-3,000 p.m. Employers contribution to recognized provident fund 15% of salary He has been provided with a house by the company for which a sum of 71200 p.m. is Beducted from his salary. The company pays a rent of 7 6,000 p.m., for this house directly to the andlord. Compute the taxable value of concessional house to be included in the salary of Mr. Raj Anand.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting