Question

7.
An officer's annual income (excluding house rent allowance) in the financial yar
2012-2013 is 87,20,000. She deposits 3000 every month towards premium on
life insurance policy, 4000 every month in general provident fund and also
purchased a national savings certificate worth 330000. She donated 20,000 to an
orphanage and 50% of this donation is eligible for tax rebate. If a maximum of
1,00,000 can be invested in any type of savings to qualify for tax rebate, then
calculate the tax she has to pay at the end of the year.
A. The rates of tax are as follows:​

Answer 1

Answer:

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