Arun wanted to avoid paying tax by not showing his income of Rs.1,00,000. But his wife insisted he pay tax as the money is used by the government for the country. If the rate of income tax is 12%. How much tax does Arun does have to pay on the amount?
Answers
Answered by
1
Answer:
Rs 12,000
Step-by-step explanation:
Given,
Total income = 1,00,000
Rate of income tax = 12 percent
Tax Arun have to pay on the amount is-
= 12/100 * 1,00,000
= 12,000 Rs
Similar questions