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What do you understand from the following?
1. Minimum of Time Scale ( MTS) (1.5+1.5=3) 2. Initial Thresh hold of income for taxation of a salaried individual for tax
Compute the taxable income and tax liability thereon of Mr. Kamal, a
salaried individual. The data pertaining to tax year 2007 is given
Utilities paid by employer
House rent allowance
Free hospitalization services availed under terms of
Driver?s salary paid by employer
Rs. 20,000 pm
Rs. 50,000 for tax yr.
Rs. 60,000 for tax yr.
Rs. 5,000 pm
Rs. 5,100 pm
Rs. 40,000 for tax yr.
Rs. 8,000 pm
Rs. 6,000 pm