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QUESTIONS
Q 1 .
Basic salary = 20,000 p.m.
Company has given a credit Card to the Employee through which he incurred his personal expenses
Company paid a bill of Rs.40000 and annual membership of Rs.1,000
Also on Add-on Card has been issued which is used by Employee wife (No membership fees for Add-on Card but amount spent by Employees wife Rs.30,000 which is reimbursed by the company)
Calculate income from salary .
View answer
Ans. Basic salary = 240,000
Credit Card Perquisite = 40,000 + 1,000 + 30,000 = 71,000
Income from salary = 240000+71000=3,11,000
Q.2
Suppose the company charges Rs.50000 from the Employee regarding the credit Card
View answer
Basic salary = 240,000
Credit Card Perquisite = 71000 – 50000
= 21000
Income from salary = 261000 (240000 + 21000)