Question

Eswar earned an annual salary of ₹1,02,000 the standard deduction was ₹30,000. Donations upto 10%of gross salary were extempt from tax.He donated ₹1050 per month to the NDF. Find his net taxable income.​

Answer 1

Gross salary =Rs.102,000

Standard deduction for a salary of Rs.102,000 is Rs.30,000.

∴ Standard deduction=Rs.30,000

The total amount donated (in Rs.)

=(12)(1050)=12,600

But, 10% of the total salary is Rs.10,200 which is less than Rs. 12,600. which is less than Rs.12,600.

Net taxable income

=Rs.102,000-Rs.(30,000+10,200)=Rs.61,800.

Answer 2

Given :

• annual salary =rupees 1,02,000
• Standard deduction = 30,000
• Donations of gross salary = 10 %
• Donated to NDF per month = 1050

To Find :

• Net taxable income

Solution :

Let's begin :-

$\rightarrow$ Gross salary = 102,000

$\rightarrow$ Standard deduction of 102,000 is 300,000

$\therefore$ Standard deduction = 30,000

$\rightarrow$ The amount donated in rupees (12) (1050) = 12600

But, 10 of the total salary is rupees 10,200 , which is less than rupees 12,600

$\rightarrow$ Net taxable income = 102,100 - ( 30,000 + 10,200)

$\rightarrow$ 61,800

$\color{red} {Final\:Answer\:is\:61,800}$

Hope it helps you :)