Income tax is increased by x% and net income is decreased by y% find the rate of income tax formula
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Explanation:
accounting equation in the books of Ramesh started business with cash rupees 250000/purchased goods on credit Rs. 10000/sold goods costing Rs .5000 for Rs .7000 /purchased goods for cash Rs .4000 /rent paid Rs . 500 and rent outstanding Rs . 400/sold goods on credit rupees 12000 costing Rs . 14000 / paid salary in advance 1000 / received interest Rs . 200
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Hello!
Subtract the exemptions of HRA, conveyance and medical expenses from the gross salary.
Add the extra income of interest, commission and bonuses, if any.
Add the rental income, if any.
Add the capital gains, if any.
Thanks!!❤
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