Question

Compute the income tax payable by following individuals.
(i) Mr. Kadam who is $35$ years old and has a taxable income of Rs.$13,35,000$
(ii) Mr.khan is $65$ years of age and his taxable income is Rs.$4,50,000$
(iii) Miss Varsha (Age 26 years )has a taxable income of Rs.$2,30,000$

Answer 1

$i)Incometaxpayable=\frac{30}{100}\times 13,35,000=4,00,500ii)Incometaxpayable=\frac{5}{100}\times 4,50,000=22,500ii)Incometaxpayable=\frac{0}{100}\times 2,30,000=0$