204k views
5 votes
7. Find the income tax in each of the following cases Annual salary GH8,000.00 Allowance Rate of tas GH41,450.00 12% GH15,000.00 GHz4,750 GH17,000.00 GH₂3,000.00 Tes GH/25,000.00 GH5.500.00 250 30%​

User G Bas
by
7.0k points

1 Answer

0 votes

Final answer:

To find the income tax in each case, multiply the annual salary by the corresponding tax rate. In case 1, the income tax is GH960.00. In case 2, the income tax is GH12,435.00. In case 3, the income tax is GH4,250.00.

Step-by-step explanation:

The income tax in each of the following cases can be calculated by multiplying the annual salary by the corresponding tax rate. Let's go through each case step by step:

  1. Case 1:

    Annual salary: GH8,000.00
    Tax rate: 12%

    Tax = annual salary × tax rate = GH8,000.00 × 0.12 = GH960.00

    The income tax in this case is GH960.00.

  2. Case 2:

    Annual salary: GH41,450.00
    Tax rate: 30%

    Tax = annual salary × tax rate = GH41,450.00 × 0.30 = GH12,435.00

    The income tax in this case is GH12,435.00.

  3. Case 3:

    Annual salary: GH17,000.00
    Tax rate: 25%

    Tax = annual salary × tax rate = GH17,000.00 × 0.25 = GH4,250.00

    The income tax in this case is GH4,250.00.

User Sangeetha Krishnan
by
8.4k points