Question: Mr. Vinayak is working as Chief Personnel Officer in Bank of Maharashtra. The following are the particulars of his income : Basic salary Rs.25000

Mr. Vinayak is working as Chief Personnel Officer in Bank of Maharashtra. The following are the particulars of his income : Basic salary Rs.25000 p.m DA Rs.4000 p.m Special Executive allowance - Rs.1000 p.m Conveyance allowance - Rs.6000 Bonus 2 months basic salary Entertainment allowance - Rs. 750 p.m ( He spends Rs.550/ p.m) LTA-Rs.65000 (He spent Rs.42000 on a family tour) Profession tax deducted from his salary - Rs.600 for the year Determine his taxable salary and tax payable 25

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