Question

in the financial year 2014 2015 the annual income of mrs bhawna not including house rent allowance was 600000 she deposits 48000 every year in general provident fund and 25000 as annual premium on life insurance policy if she pays 1500 every month towards income tax and 100000 is allowed as savings under all schemes then calculate the payable income tax due in addittion a 3% education dub tax is to be paid over the income tax​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

Income- 600000

provident fund- 48000

premium- 25000

fund for- 1500×11=16500

savings allowed- 100000

Amount on which for will be calculated is

600000-100000-48000-25000=427000

tax- 10℅

total tax- 427000×(10÷1000)=42700

Already paid- 16500

Due tax 42700-16500=26200

Education tax 42700×3/100=1281