Mr. Shan is a salaried employee. During the year ended on 31st March, 2011, the details of his income and other information were as follows:
Year of Exam- 2011
Question Paper -1
Question number-4-b
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Question-
| Particulars | Amount (₹) |
| Annual Salary ₹35,000 * 12 | 4,20,000 |
| Pay Arrears | 80,000 |
| Leave Travel Concession provided by Employer | 21,000 |
| House Rent Allowance ₹10,000 per month | |
| Dividend on Investment in Shares | 1,500 |
| LIC Premium paid on his Life by Employer | 18,000 |
| Medical Allowance @₹1200p.m. | 14,400 |
| Mr. Shan invested in NSC | 25,000 |
| Investment in Mutual Fund (ELSS) | 10,000 |
| Deposit in Public Provident Fund | 15,000 |
| Admission Fees of the Child | 6,000 |
| Donation to a Local Private School | 1,000 |
He owns a house which has been let out on annual rent of ₹96,000.
Paid Municipal Charges on House Property ₹6,000.
Determine the Total Income of Mr. Shan and the tax payable by him as per the rates applicable for 2011-2012 Assessment Year.
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