Mr. D’suza is a operations manager in a private company college in Hyderabad.
During the previous year 2011-12, he gets the following emoluments:
He gets Rs. 17,500 as reimbursement from his employer in respect of medical expenditure incurred on treatment of his wife in a private clinic. Besides, he gets Rs.12, 300 as reimbursement from the employer in respect of books and journals purchased by him in discharging his official work.
He contributes 11% of his salary to statutory provident fund to which a matching contribution is made by the employer. During the year, he spends Rs.17, 000 for maintaining a car for going to the college. Determine his net income under the head salaries.
A . Rs 395300
B . Rs 375700
C . Rs 415300
D . Rs 418900
Answer: B