Q8 of 16 Page 107

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.

i) In case of Mr.kadam who is 35 years and taxable income is 13,35,000


•up to 250000 - No tax (0 %)


•2,50,000 to 5,00,000 - 12,500 (2,50,000 x 5%)


•5,00,000 to 10,00,000 - 1,00,000 (5,00,000 x 20%)


•remaining 3,35,000 - 1,00,500 (3,35,000 x 30%)


Income Tax is 2,13,000 + Education cess 3% on 2,13,000


Total tax is 2,19,390


(ii) in case of Mr . Khan who is 65 yrs and 4,50,000 income taxable


upto 300000 - No tax ( 0 % )


remaining 150000 - 7500 ( 150000 x 5%)


Income Tax is 7500 + Education Cess 3% of 7500


Total Tax is 7725


(iii) In case of Miss Varsha who is 26 yrs and 2,30,000 taxable income.


upto 2,50,000 income - no tax


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