Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q.1. sageer a resident individual is working as a

Q.1. Sageer a resident individual is working as a professor at Knowledge Institute. Details of...

70.2K

Verified Solution

Question

Accounting

Q.1.

Sageer a resident individual is working as a professor at Knowledge Institute. Details of his monthly remuneration during the year ended 30 June 2020 are given below:

Basic SalaryRs. 200,000

Medical Allowance Rs. 20,000

In addition to the above, he was provided the following:

Health Insurance for Sageer and his dependents as per the terms of employment. For this purpose KI is paying annual insurance premium of Rs. 40,000

Provident Fund contribution of Rs. 15000 per month to a recognized provident fund. An equal amount was also contributed by Sageer to the fund.

On 31 August 2019, he received leave encashment of Rs. 100,000 relating to previous year.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Menlo Company distributes a single product. The company’s salesand expenses for last month follow:Total...Menlo...

Accounting
Q

Discuss fire as a mechanism of secondary succession and how a natural fire can enhance species...

Biology
Q

A few weeks after someone has recovered from coronavirus infection that caused COVID-19, you would expect...

Medical Sciences
Q

This week, let's talk about investments andinvestment risk. In class with you today are individuals with various...

Accounting
Q

A closed cubical box made of perfectly insulating material has walls of thickness 8 cm...

Physics
Q

Divide.(-3-14x+10x): (5x-4)Write your answer in the following form: Quotient +

Calculus
Q

9 If f x In x then lim x 3 Im A B e f...

Calculus
Q

4. Suppose the a function of two variables f(x, y) satisfiesf = af? + bfyProve...

Algebra
Q

Woody Lightyear is considering the purchase of a toy store from Andy Enterprises. Woody expects...

Accounting
Q

Suppose the following two independent investment opportunities are available to a company. The appropriate discount...

Finance
Q

Avignon Restaurant is considering the purchase of a $9,400 souffl maker. The souffl maker has...

Finance
Q

Locate the Treasury issue in Figure 7.4 maturing in November 2022. Assume a par value...

Finance