The annual income of Sohan (excluding HRA is Rs. 2,10,000. He contributes Rs. 4000 per month in his provident fund account and pays on annual insurance Premimum of Rs. 22000. Calculate the income tax including surcharge sohan has to pay in the last month of the year if his earlier deductions as income tax for the first 11 month were at the rate of Rs. 1800 per month. (2) Assuming the following while calculating income tax
a) Standard deduction: 1/3rd of the total annual income subject to a maximum of Rs. 20,000 (Rs. 25000 in case the annual income is less then Rupees one lakh).
b) Rates of income tax
Slab Income tax
i) upto 50,000 No tax
ii) From Rs. 50,001 to Rs. 60,000 10% of the amount exceeding Rs. 50,000
iii) From Rs. 60,001 to Rs. Rs. 1000+20% of the amount exceeding
Rs. 60,000
150,000
iv) From Rs. 150,001 & onwards Rs. 19,000+30% of the amount exceeding
Rs. 150,000
c) Rebate in tax 20% of the total savings subject to a
maximum of Rs. 12,000
d) Surcharge 10% of the total tax payable (after rebate)
Annual income = 210000
p.f.=40000/month =12x4000=48000
insunge =22000
deduction if month Rs 1800\month
Net income = 210000
-(48000)
-22000
140000
of 140000 = 45000
But maximum month
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The annual income of Sohan (excluding HRA is Rs. 2,10,000. He contributes Rs. 4000 per month in his provident fund account and pays on annual insurance Premimum of Rs. 22000. Calculate the income tax including surcharge sohan has to pay in the last month of the year if his earlier deductions as income tax for the first 11 month were at the rate of Rs. 1800 per month. (2) Assuming the following while calculating income tax
a) Standard deduction: 1/3rd of the total annual income subject to a maximum of Rs. 20,000 (Rs. 25000 in case the annual income is less then Rupees one lakh).
b) Rates of income tax
Slab Income tax
i) upto 50,000 No tax
ii) From Rs. 50,001 to Rs. 60,000 10% of the amount exceeding Rs. 50,000
iii) From Rs. 60,001 to Rs. Rs. 1000+20% of the amount exceeding
Rs. 60,000
150,000
iv) From Rs. 150,001 & onwards Rs. 19,000+30% of the amount exceeding
Rs. 150,000
c) Rebate in tax 20% of the total savings subject to a
maximum of Rs. 12,000
d) Surcharge 10% of the total tax payable (after rebate)
Use number line to evaluate the following
i) -5+ (-3)
ii) 4- (-4)
is
1) a positive rational number
2) a negative rational number
3) either a positive or a negative rational number
4) neither a positive nor a negative rational number
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210, 450, 530, 345
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1) 100 : 16 2) 7 : 50
3) 50 : 7 4) 1 : 8
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