Question

explane the salary bof income tax

Answer 1

For income till Rs.2.5 Lakhs: Tax is not levied. For income falling under the slab of Rs.2.5- Rs.5 Lakhs: 10% of the sum Rs.2.5 Lakhs is charged. For income falling under the slab Rs.5 – Rs.10 Lakhs: Rs.25,000 + 20% of the amount more than Rs.5 Lakhs is levied as tax benefits.

Answer 2

This is the correct answer