Shyam is a 31-year old businessman who owns an electronics store in Gurgaon. He earned ₹22,00,000 from the sale of electronics in the financial year 2018-19. He had spent ₹12,00,000 on the purchase of electronic items and the maintenance of his store. This means he made a profit of ₹10,00,000 in that year. Assuming that Shyam had no other earnings in the year and incurred no other expenditure on his business, how much income tax he has to pay in the assessment year 2019-20 as per the provisions of the Income Tax Act, 1961?
Answers
Answered by
0
Step-by-step explanation:
the answer is given in the attachment
Attachments:
Similar questions