Question: 1.Mr. Ramesh is employed at Chennai at a basic salary of Rs 25,000 p.m and he is also getting following allowances: ParticularsAmount (P.M) Dearness Allowance

1.Mr. Ramesh is employed at Chennai at a basic salary of Rs 25,000 p.m and he is also getting following allowances: ParticularsAmount (P.M) Dearness Allowance (100% enters to Retirement benefits)2,000 Lunch allowance1,000 Servant allowance (he is paying 1,200 p.m to a servant)1,000 Transport Allowance2,000 Education allowance at Rs 200 pm per child for three children Hostel Allowance to one child500 Conveyance allowance (not spent)800 Overtime allowance2,000 Officiating Allowance2,000 Cash allowance1,200 Entertainment Allowance2,000 Medical Allowance800 City Compensatory Allowance600 HRA5,000 Helper Allowance3,000 Uniform Allowance (spent Rs 10,000)1,000 He is having a family house at the place of his posting but he is living in a rented house and is paying a rent of Rs 7,000 p.m. Find out his Gross Salary: a.If he does not opts to be taxed u/s 115BAC b.If he opts to be taxed u/s 115BAC

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