Question

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?

• A. 106800

Answer 1

The correct option is A 106800
Mr. Sam falls in Senior citizen category which is between 60 - 80 years.
His annual income = 82000 $\times$ 12 = ₹9,84,000
Income tax for ₹3,00,000 to ₹5,00,000 = ₹10,000
Income tax for ₹5,00,000 to 9,84,000 = 20% of ₹4,84,000
= $\frac{20}{100}\times 4,84,000$
= ₹96,800
Total Tax Mr. Sam pays = ₹96800 + 10000 = ₹1,06,800