Question

Shri Manoj who is 39 years old and has a taxable income of Rs 9,54,000?

Answer 1

Income tax payable=5/100*954000

=47700

Answer 2

Given: Shri Manoj 's taxable income =Rs.9,54,000

To Find: Income tax of Shri Manoj

Solution:

Shri Manoj is 39 years old and his taxable income is Rs.9,54,000

Shri Manoj 's income is less than Rs 10,00,000

Shri Manoj 's income falls in the slab 5,00,001 – ₹ 10,00,000

∴ Income tax

Taxable income=Rs.9,54,000

Income tax=12500+20%( Rs.9,54,000- Rs.5,00,000)

=12500 + 20/100(454,000)

=12500 + 90,800

= 1,03,300

ANSWER : RS. 1,03,300