Question

1. Neha is working in a MNC from where receives a basic salary of 175,000 per month, HRA of 50,000 and special allowances of 7 25000 per month. She also gets leave travel allowance (LTA) of 20,000 annually. If she pays rent of T 40,000 per month and live in Delhi. Calculate the income tax payable by Neha in the financial year 2020-21. 2. Raghu is a government servant. His basic salary is 123,500 per month and receives 29,640 per month HRA and ? 7200 per month as travel allowance. If he pays incomme tax of R 25000 per month in first 11 months of the Financial year. Calculate the income tax, Raghu has to pay in the last month of the financial year 2020-21. ANSWERS 1.7 830,115 2. 7 99,521​

Answer 1

Money earned in a month

Rs. (175000+ 50000+25000 + 20000)

- = Rs. 270000

Total income (yearly) = Rs.270000 × 12

= Rs. 3240000

Now, money paid in rent (per month) = Rs. 40000

So, rent paid in 1 year = Rs.40000 × 12 =

Rs. 480000

So, money left after paying rent = Rs. (3240000 230000) = Rs. 3100000

In Delhi, the tax rate for income above Rs. 15,00,000 is Rs. 187000 + 30% of total income exceeding Rs. 16,00,000

So,

30% of Rs.1600000= Rs.480000

:: Total Tax Payable = Rs. (187500 + 187000) = Rs.667500

Here is your answer.

Answer 2

Answer:

667500 is answer please make me brainslit