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Income from salaries

PRIYANKA (ca ipcc) (32 Points)

29 April 2014

AY yr : 2014 to 2015 Mr X was appointed on 1.1.2013 in the scale of 20000-1000-30000.expain me what is the basic pay ?

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Deepak Gupta (CA Student) (15922 Points)
Replied 29 April 2014

Originally posted by : PRIYANKA
	AY yr : 2014 to 2015 Mr X was appointed on 1.1.2013 in the scale of 20000-1000-30000.expain me what is the basic pay ?

Mr. X will get a basic salary of Rs. 20,000 w.e.f. 01.01.2013.
.
He will get annual increment of Rs. 1,000 w.e.f. 01.01.2014 and onwards till his salary reaches Rs. 30,000.
.
Basic salary for previous year 2013-2014:-
.
01.04.2013 to 31.12.2013 = Rs. 20,000 x 9 = Rs. 1,80,000 (A)
.
01.01.2014 to 31.03.2014 = Rs. 21,000 x 3 = Rs. 63,000 (B)
.
Total (A + B) = Rs. 2,43,000