Question

A person aged 62 years has annual income rupees 13,00.000. How much income tax he must first pay​

Answer 1

Answer:

Step-by-step explanation:

Amount as Tax he has to Pay = 22500

Step-by-step explanation:

annual income of a person is 725000 rupees

tax exemption is 5,00,000

=> Taxable income = Total income - Exempted income

=> Taxable income = 725000 - 500000

=> Taxable income = 225000

10%of tax to be paid to the government

=> Tax   to be Paid  = (10/100) 225000

=> Tax to be Paid = 22500

Amount as Tax he has to Pay = 22500