Salary practical question

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rashmi (Querist)
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31 July 2011 PLEASE GIVE ME ANSWER WITH IN 2 DAYS OR MAIL ME AT RASHMI.KALINDI@GMAIL.COM

Mr. Amal is a Manager in R Ltd. He gets salary @ ` 20,000 pm. He is also allowed
free use of computer, video-camera and television of the company. R Ltd. has
purchased (i) Computer for ` 1,50,000 (ii) Video-camera for ` 40,000. Their
written down value on 1.4.07 is ` 60,000 and ` 30,000 respectively. Television
set has been taken on lease rent @ ` 75pm. Compute his gross salary for the
Assessment Year 2011-12.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 July 2011
Salary Rs.20000 x 12 =240000

Use of computer is not taxable

Use of Video Camera is taxable to the extent of 10% of the actual cost Rs.40000x10% =Rs.4000

Television set used Rs.75 x 12 = Rs.900
So Gross Salary Rs.240000+4000+900= Rs.244900/-