Income of 12750 and allowance of 3925 she pays tax at 23% how much tax she must pay
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Income of 12750 and allowance of 3925 she pays tax at 23% how much tax she must pay
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Given : Income of 12750 and allowance of 3925
she pays tax at 23%
To Find : how much tax she must pay
Solution:
Income of 12750 and allowance of 3925
Allowance are also taxable
Hence total taxable incomes = 12750 + 3925
= 16675
tax at 23%
Tax = (23/100) 16675 = 3,835.25
tax she must pay = 3,835.25
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