10-18-2010, 07:13 PM
ADD Basic Salary (25000*12) 300,000
H.Rent All (5000*12) 60,000
Medical (6000*12) 72,000
Conveyance (300*12) 3600
Total Income = 435,600
Less Exempt income(medical allowance 10% of Basic) = 30,000
annual taxable income = 405,600
H.Rent All (5000*12) 60,000
Medical (6000*12) 72,000
Conveyance (300*12) 3600
Total Income = 435,600
Less Exempt income(medical allowance 10% of Basic) = 30,000
annual taxable income = 405,600