.....Mr. Mohit is employed with XY Ltd. on a basic salary of ` 10,000 p.m. He is also entitled to dearness allowance @ 100% of basic salary, 50% of which is included in salary as per terms of employment. The company gives him house rent allowance of ` 6,000 p.m. which was increased to ` 7,000 p.m. with effect from 1.01.2018. He also got an increment of ` 1,000 p.m. in his basic salary with effect from 1.02.2018. Rent paid by him during the previous year 2017-18 is as under: April and May, 2017 - Nil, as he stayed with his parents June to October, 2017 - ` 6,000 p.m. for an accommodation in Ghaziabad November, 2017 to March, 2018 - ` 8,000 p.m. for an accommodation in Delhi. Compute his gross salary for assessment year 2018-19.
Dec. 08, 2017