Q. 24.4( 49 Votes )

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Answer :

According to 1st table,


His monthly income = Rs 42,000


Annual Salary = 12 × Rs 42,000


= Rs. 5,04,000


Now, following table shows his investments:



Taxable salary = Rs. 5,04,000 – (Rs. 63,000)


= Rs. 4,41,000


It comes into table 1 and income tax slab 2.


5%(taxable minus 2.5lacs) =



= Rs.9550


Income tax = Rs.9550


Primary cess = 2% of I.T.


= = Rs.191


Secondary cess = 1% of I.T.


= Rs.95.5


Total income tax = Rs.9550 + Rs.191 + Rs.95.5


= Rs.9836.5


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