Question: Please solve the problem Mr. Ram Charan is a Professor in the Department of Science, in Mumbai University, Mumbai. Following are the particulars of his

 Please solve the problem Mr. Ram Charan is a Professor in

Please solve the problem

Mr. Ram Charan is a Professor in the Department of Science, in Mumbai University, Mumbai. Following are the particulars of his income for the assessment year 2020-21: (i) Basic pay Rs.1,20,000 per month; () Dearness allowance 30% of salary (1) House rent allowance 30% of basic salary (1) Medical allowance Rs.6000 p.a. (amount actually spent on treatment Rs.2000); (v) Tiffin allowance Rs. 1000 p.m.(vi) House rent paid Rs.40,000 p.m. He earns incom from conducting private Tutions amounting to Rs.1,00,000. Compute Income under the head Salary. If Mr. Ram Charan earns the following incomes, compute Income from other sources: 1. Dividend from Indian Company Rs.3,00,000 2.Dividend from Foreign Company Rs.2,00,000 3.Cash gift of Rs.51,000 from his wife's Grand Father on occasion of his birthday. 4.A TV was gifted to him by his close friend on occasion of his birthday. Fair Market value of it is Rs.55,000

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