Question

The taxable income of
Mahindra is rupees 8,00,000.
If his age is 32 years, then the
income tax to be paid by him
is ________​

Answer 1

Answer:

The Income Tax Calculator for Budget 2020 proposals is ready. Nirmala Sitharaman's Budget 2020 proposals introduced a new option for individuals - they can either stick to the old method or adopt new tax rates and slabs if they give up almost 70 exemptions. This Financial Express - EY comprehensive income tax calculator 2020 now takes into account the new option as well. So, find out, with this income tax calculator 20 if you should stick to the old method or give up exemptions like HRA, LTA, investments under Section 80C. Find out impact of budget on your income tax payout:

(Note: This calculator is for resident individuals below 60 years of age. This Tax Calculation is subject to marginal relief, if applicable. This calculator does not account for inter-head loss adjustments.

Step-by-step explanation:

Answer 2

The person who has taxable income Between 7.5 lakh to 10 lakh then the income tax to be paid by him is 15%

And if Mahindra taxable income is 8,00,000 then the income tax to be paid by him is 1,20,000