Question

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?

• A. ₹5000
• B. ₹6000
• C. ₹4500
• D. ₹5550

Answer 1

The correct option is A ₹5000

Mr. Mathur is a Super Senior Citizen who has 80+ age.
According to his tax slabs :
Income tax = ₹1,00,000 + 30% of ₹5,00,000
= ₹1,00,000 + ₹1,50,000
= ₹2,50,000
Education cess = 2% of the income tax = $\frac{2}{100}\times 250000$ = ₹5000