a company Pays dividend of 15% on its 10 rupees shares from which is detected Income Tax at the rate of 22%. Find the annual income of a man who owns hundred shares of this company
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Step-by-step explanation:
Market value of 1 share =Rs. 10
Nominal value of 1 share =Rs. 10
Nominal value of 1000 share =Rs. (10×1000)
=Rs. 10000
Annual income =
100
15
×10000
=1500
Income tax =
100
22
×1500=Rs. 330
∴ Net income (after detection of income tax) =Rs. (1500−330)
=Rs. 1170.
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