Computation of Income Tax

Q. Mr. Trivedi invested ₹4, 00, 000 in an industry. After 2 years he received ₹5, 20, 000 from the industry. Putting aside the original investment, he invested the gains in mutual funds and in shares in the ratio 3:2. How much amount did he invest in each of the schemes?

Q. The sum of Education cess & Secondary education cess that Dev pays if he pays ₹4200 as Income tax is .

1. ₹136
2. ₹126
3. ₹142
4. ₹112

Q. Mr. Jeevani is 43 years old. His gross total income is ₹10, 00, 000. He has invested the following amounts in different schemes :
(i) Insurance premium = ₹80000
(ii) Investment in PF = ₹45000
(iii) Investment in PPF = ₹4000
(iv) National Saving Certificate = ₹11000
Find out the income tax payable.

1. ₹1, 44, 250
2. ₹1, 84, 500
3. ₹82, 500
4. ₹1, 74, 800

Q. Mr. Singh is 32 years old and earns ₹13, 50, 000 per annum. How much Income tax(along with Education cess and Secondary education cess) he has to pay according to the taxation table?

1. ₹2, 20, 045
2. ₹2, 22, 075
3. ₹2, 24, 025
4. ₹2, 23, 050

Q. Mr. Jeevani is 43 years old. His gross total income is ₹10, 00, 000. He has invested the following amounts in different schemes :
(i) Insurance premium = ₹80000
(ii) Investment in PF = ₹45000
(iii) Investment in PPF = ₹14000
(iv) National Saving Certificate = ₹21000
Find out the taxable income.

1. ₹8, 40, 000
2. ₹10, 00, 000
3. ₹8, 50, 000
4. ₹6, 00, 000

Q. Total income of Ramyani, Mac and Ankit is ₹12, 24, 000. The % of their expenses are 80%, 85% and 90% respectively. If the ratio of their savings is 3:7:8 which is same as the ratio of their respective incomes, then find the Annual Saving of Mac and Ankit combined.

1. ₹1, 32, 600
2. ₹1, 25, 800
3. ₹1, 15, 260
4. ₹1, 20, 844

Q. If the Education cess is ₹500, and there is no rebatable component of Income tax declared, find the annual income if the person is 35 years old?

1. ₹5, 04, 750
2. ₹5, 92, 200
3. ₹6, 52, 500
4. ₹5, 62, 500

Q. If Mr. Sam is 63 years old and draws a salary of ₹82000 per month, what is the income tax that he pays according to his tax slab?

1. 106800

Q. If Krish earns ₹24, 80, 000 per annum, and his age is 32 years, how much income tax(Including Education cess and Secondary education secc) does he pay?

1. ₹3, 60, 240
2. ₹2, 50, 000
3. ₹3, 90, 000
4. ₹3, 80, 070

Q. The sum of the incomes of Ramyani, Mac, and Ankit is ₹12, 24, 000. The percentage of their expenses are 80%, 85%, and 90%, respectively.
If the ratio of their savings is 3:7:8 which is same as the ratio of their respective incomes, then find the annual saving of Mac and Ankit combined.

Q. Mr. Mathur is 82 years old and earns ₹15, 00, 000 per annum. What is the Education cess that he pays on his Income tax?

1. ₹5000
2. ₹6000
3. ₹4500
4. ₹5550

Q. Mr. Madan is 86 years old and earns ₹15, 00, 000 per annum. What is the Secondary Education cess that he pays on his Income tax?

1. ₹5000
2. ₹500
3. ₹2500
4. ₹250

Q. Mr. Vikram is 27 years old and earns ₹7, 50, 000 per annum. The Education cess that he pays on his Income tax is .

1. ₹1250
2. ₹1450
3. ₹625
4. ₹750

Q. If the Secondary Education cess is ₹500, and there is no rebatable component of Income tax declared, find the annual income if the person is 65 years old?

1. ₹8, 40, 000
2. ₹7, 00, 000
3. ₹6, 50, 000
4. ₹7, 84, 000

Q. Mr. Agarwal is 66 years old and earns ₹13, 50, 000 per annum. How much Income tax(along with Education cess and Secondary education cess) he has to pay according to the taxation table?

1. ₹2, 24, 025
2. ₹2, 11, 150
3. ₹2, 21, 540
4. ₹2, 15, 270

Q. Mr. Lalit is 42 years old and pays ₹5400 as education cess per annum. What is the Income tax that he pays?

1. ₹290000
2. ₹270000
3. ₹540000
4. ₹280000

Q. Devankar is 30 years old and pays an income tax of ₹8400 as Income tax every year. What is the total of Education cess and Secondary education cess that he pays in the entire year?

1. ₹278
2. ₹252
3. ₹236
4. ₹240

Q.

What will be the income tax that a senior citizen of age 88 has to pay if he earns ₹4, 90, 000 per annum?

1. ₹6000

2. ₹0

3. ₹4900

4. ₹2950

Q. If the Education cess is ₹500, and there is no rebatable component of Income tax declared, find the annual income if the person is 68 years old?

1. ₹6, 50, 000
2. ₹7, 00, 000
3. ₹4, 84, 000
4. ₹5, 75, 000

Q. Mr. Vicky is 74 years old and earns ₹8, 50, 000 per annum. How much Income tax(along with Education cess and Secondary education cess) he has to pay according to the taxation table?

1. ₹61, 800
2. ₹76, 320
3. ₹82, 400
4. ₹94, 200

Q. Mr. Jahangir Khan is 53 years old and pays ₹4800 as education cess per annum. What is the Income tax that he pays?

1. ₹3, 00, 000
2. ₹4, 80, 000
3. ₹5, 40, 000
4. ₹2, 70, 000

Q. If the Secondary Education cess is ₹500, and there is no rebatable component of Income tax declared, find the annual income if the person is 65 years old?

Q. Which of these is not an income tax slab for citizens belows 60 years of age?

1. ₹10, 00, 000 and above
2. ₹2, 50, 001 - ₹5, 00, 000
3. ₹1, 00, 000 - 2, 50, 000
4. ₹5, 00, 001 - 10, 00, 000

Q. If Raman earns ₹251000 per annum, and his age is 22 years, how much income tax(Including Education cess and Secondary education secc) does he pay? [3 Marks]