How do I apply a section 10 formula?
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Section Formula.
Numerical: Find the coordinates of the point which divides the line segment joining the points (4, – 3) and (8, 5) in the ratio 3 : 1 internally.
Solution: Using section formula P(x, y) = { (m1x2 + m2x1)/(m1 + m2 ) , (m1y2 + m2y1)/(m1 + m2 ) }
Explanation:
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The total taxable salary would be computed after reducing the allowances exempt under Section 10 and the balance salary would be taxable as per the Income Tax Slabs. TDS on Salary would also be deducted and the employee can claim credit of the same at the time of filing of income tax return.
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