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  1. #1
    Administrator Xpert's Avatar
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    May 2010


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    Salary Income
    Basic Salary 120,000
    Rent free furnished accommodation 60,000
    Conveyance Allowances 12,000
    Leave Fare Assistance 17,000
    Leave encashment 10,000
    Employer 's contribution to provident fund Nil
    Total Income 219,000
    Less: Zakat (400+1000+600) (2000)
    Taxable Income 217,000
    Computation of Tax Liability
    Tax On Rs: 217,000 @ 0% 0
    According to First Schedule Tax rate is 0%
    Tax on Property Income Nil
    Total Tax Liability 0
    Less: Tax deducted at sources 3,000
    Tax Refundable (3,000)

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