Answer all sub questions in Q.8.
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( i ) In case of Mr.Kadam who is 35 years and taxable income is 13,35,000
up to 250000 - No tax (0 %)
2,50,000 to 5,00,000 - 12,500 (2,50,000 x 5%)
5,00,000 to 10,00,000 - 1,00,000 (5,00,000 x 20%)
remaining 3,35,000 - 1,00,500 (3,35,000 x 30%)
Income Tax is 2,13,000 + Education cess 3% on 2,13,000
Total tax is 2,19,390
( ii ) in case of Mr . Khan who is 65 yrs and 4,50,000 income taxable
upto 300000 - No tax ( 0 % )
remaining 150000 - 7500 ( 150000 x 5%)
Income Tax is 7500 + Education Cess 3% of 7500
Total Tax is 7725
( iii ) In case of Miss Varsha who is 26 yrs and 2,30,000 taxable income.
upto 2,50,000 income - no tax
up to 250000 - No tax (0 %)
2,50,000 to 5,00,000 - 12,500 (2,50,000 x 5%)
5,00,000 to 10,00,000 - 1,00,000 (5,00,000 x 20%)
remaining 3,35,000 - 1,00,500 (3,35,000 x 30%)
Income Tax is 2,13,000 + Education cess 3% on 2,13,000
Total tax is 2,19,390
( ii ) in case of Mr . Khan who is 65 yrs and 4,50,000 income taxable
upto 300000 - No tax ( 0 % )
remaining 150000 - 7500 ( 150000 x 5%)
Income Tax is 7500 + Education Cess 3% of 7500
Total Tax is 7725
( iii ) In case of Miss Varsha who is 26 yrs and 2,30,000 taxable income.
upto 2,50,000 income - no tax
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