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AYUSHI   28 November 2016

Problems on income from salries

Hi, I am Facing problems in some questions of Income from salaries. I will Be grateful if i get full solved Answer.

Q1 Anjan Joins a a service in the grade of Rs 15600-39100 plus grade pay of Rs 6000 on 1.08.2015. he also gets dearnance allowance @ 107% of salary.His tax Liability for assessment year 2016-17will be-

Q2 Ramesh,an employee of Gauri & Co. of Delhi, received the following payments during previous year ended 31st march,2016:

Basic salary:2,40,000 and dearnance allowance: 40% of basic salary(40% forming part of salary). Rent free unfurnished accomodation provided by employer for which rent paid by employer being: Rs 50,000. The value of taxable perquisite in the hands of Ramesh will be-

Q3 Rohan retires from private service on 30th april,2015 and his pension has been fixed at Rs 1500 p.m. he gets 1/2 of his pension commuted during january 2016 and receives Rs 75000. he also gets Rs 60,000 as gratuity. the total pension taxable including commuted value will be-

Thank You



 9 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     28 November 2016

1. Answer: Basic salary + D. A. is taxable - exemptions as per standard deductions & others. = neet income

2. Answer: Bsic salary + D.A.+ Perquisites - exemptions as standard deductions & other deductions as per act.= net income

3. Answer: All retirement benefit incomes are exepted from the income tax. 

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

Prasanth   15 December 2016

Hello Ayushi, This is Prasanth , 1) Since Ajan joins service on Aug 15, receives salary for 8 months in AY-2016-17,and the total income will be 258336 and there will be no tax liability. 2)Taxable value of perquiste will be 41760 which is 15% of his salary subject to some conditions . 3)Taxable value of total pension amount will be 39250,hence he is receiver of gratiuty only 1/3 th portion of commuted pension is exempted . Hope this clarify your query.

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