Question
What is the statutory limit u/s 16(ii) for deduction of
entertainment allowance in case of government employee?Solution
As per section 16(ii), Government employees can claim a deduction for entertainment allowance by considering the lowest from the following: 20% of an individual’s basic salary Rs.5,000 Entertainment allowance amount received in the financial year This deduction is not available for individuals working in private firms or any statutory or local authorities.
Ajay spent 34% of his monthly income on rent and 48% of the remaining on food and the rest amount is saved by him which is Rs. 2574, then find the month...
- In an election between two contestants M and N, 10% of the votes were not valid. M received 52% of the valid votes. If N received 22,032 valid votes, deter...
The income of a person is Rs.15000 and his expenditure is Rs.12000. In the next year his income and expenditure is increased by 8% and 13% respectively....
The number of boys and girls in a school is 200 and 320 respectively. 20% of boys left the school while 40 girls took admission in the school. Find the ...
A sum of Rs. 27,600 was divided between 'A' and 'B' such that the amount received by 'B' was 30% more than that by 'A'. If 'A' and 'B' spent 10% and 25...
A and B together have total of Rs.5000 out of which they donated 10% to the orphanage school. The remaining amount is to be then redistributed between t...
A gets 36% of the full marks in an exam and fails by 90 marks. B gets 39% of the full marks in the same exam and he also fails by 75 marks. What is the ...
If the price of a commodity increases by 15%, by what percentage should its consumption be reduced so that the total expenditure remains unchanged?
The number of boys and girls in a school is 120 and 200 respectively. 25% of boys left the school while 40 girls took admission in the school. Find the ...
In an exam, Asha scored 40% marks and failed by 20 marks while Meera scored 80% marks and scored 80 marks more than the passing marks. Find out the pass...
Relevant for Exams:
