Basnet is an officer of government office. He was promoted to this post on 1st Shrawan 2073, at a salary scale of Rs. 50,000 - 1,500 - 53,000 - EB -…
BBS Taxation in Nepal · 2079 · Solved Question with Answer
Basnet is an officer of government office. He was promoted to this post on 1st Shrawan 2073, at a salary scale of
Rs. 50,000 - 1,500 - 53,000 - EB - 2,000 - 63,000. The other details provided by him for the previous years as
follows:
❖ Family allowance Rs. 10,000 p.m.
❖ Dearness allowance 20% of basic salary.
❖ City compensatory allowance 10% of current salary and one month equal Dashain allowance.
❖ Travelling and Daily allowance (TADA) Rs. 20,000.
❖ Interest from fixed deposit amount Rs. 30,000.
❖ Office provided him car facility along with driver. Fuel expenses Rs. 25,000. Driver salary Rs. 20,000 p.m. and
repairs & maintenance cost Rs. 30,000 paid by office.
❖ Office has also provided a free quarter for his accommodation.
❖ A domestic assistant provide by the office, his monthly salary Rs. 6,000 paid by office. Basnet contribution
towards this facility was Rs. 2,000 pm.He claimed the following expenses for deduction:
❖ He is a member of Recognized Provident Fund contributing 10% of his salary towards this fund.
❖ He contributed amount Rs. 30,000 in the citizen investment trust.❖ He paid life insurance premium Rs. 35,000.
❖ Donation paid to social welfare organization Rs. 30,000.
❖ Basnet claimed medical expenses Rs. 20,000 and 50% paid by office.
Required : a. Net (assessable) income from Employment.
b. Statement of Total Taxable Incomec. Tax liabilities