Question

gross income of a person is 22000
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Answer 1

Answer:

the gross income of a person is 22000 a part of his income is extempted from income tax and is net income is Ra 19000 if the rate of the income is 30% the income exempted from income tax is

Answer 2

Answer:

Exempted income = 12000 Rs

Step-by-step explanation:

gross income of a person is 22000  Rs

Let say exempted income =  1000X  Rs

Taxable income = 22000 - 1000X  =  1000(22 - X)    Rs

30% tax on taxable income = (30/100) * 1000(22-X)

= 300(22-X)

Net income = gross income - Tax

=> 19000 = 22000 - 300(22 - X)

=> 190 = 220 - 3(22 - X)

=> 190 - 220 + 66 = 3X

=> 3X = 36

=> X = 12

Exempted income = 12000  Rs