My salary is 80 lakhs rupees per year what will be my income tax of how many rupees?
Note: specifc answer will get 100 points
Answers
Answered by
7
Answer:
As per the question, raw salary figure is given, no other deduction details, basis on this. The calculation for year 2019-20 would be:
Explanation:
Gross Total Income ₹80,00,000
Total Deduction ₹0
Taxable Income ₹80,00,000
Tax on Total Income ₹21,37,500
Surcharge ₹2,13,750
Health & Education Cess ₹94,050
Total Tax Payable ₹24,45,300
Answered by
2
Answer:
80,00,000
tax = 80,00,000*0.30 + 80,00,000*0.03
tax = 24,00,000 + 2,40,000
tax = 26,40,000
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