Question

The month net salary rate of a married secondary level teacher of 4 grade is Rs 43,689. s/he gets Rs 1,456 for one grade , Rs 2,000 for dearness allowance in every month and one month salary for festival allowance at once. 10% of his/her monthly salary is deposited in employee's provident fund (EPF), 10% in citizen investment fund (CIF) and Rs 400 in life insurance in each month. the government deposits the same EPF and insurance premium amounts in the related offices

1) find his/her assessable income
2) find his/her total income tax ​

Answer 1

Explanation:

The Chief Secretary's total monthly salary, including basic salary, dearness allowance, and festival allowance, is Rs 1,50,000.

We have,

The monthly basic salary of the married Chief Secretary of Nepal Government is given as Rs 74,000.

This is the fixed amount he receives as his base salary every month, before any additional allowances or deductions are considered.

Now,

In this case, the dearness allowance of Rs 2,000 is added to the basic salary.

This allowance is provided to compensate for the rising cost of living and is a fixed amount added to the basic salary.

Additionally, he receives 1 month's basic salary as a festival allowance. Since his monthly basic salary is Rs 74,000, his festival allowance would also be Rs 74,000.

Therefore, his total monthly salary can be calculated as follows:

Basic salary + Dearness allowance + Festival allowance

= Rs 74,000 + Rs 2,000 + Rs 74,000

= Rs 1,50,000

Thus,

The Chief Secretary's total monthly salary, including basic salary, dearness allowance, and festival allowance, is Rs 1,50,000.