Question

The mens taxable is income is rs 14280 the state tex instruction tel him to pay 2%on the first rs3000 of his taxable incom 3% on each of the second and third rs 3000 and 4% o the remainder what is the total amount of income tax that he must pay

Answer 1

Rs. 451.2

Explanation:

It is given that a men's total taxable income is Rs. 14,280.

He is charged by the state tax for 2% on the first Rs. 3000.

i.e.
`$2 \% * 3000$`

`$=(2)/(100) * 3000$`

= Rs. 60

Then he is asked to pay 3% on the second Rs. 3000

i.e.
`$3 \% * 3000$`

`$=(3)/(100) * 3000$`

= Rs. 90

Similarly, he pays 3% on the third Rs. 3000

i.e.
`$3 \% * 3000$`

`$=(3)/(100) * 3000$`

= Rs. 90

Lastly, he pays 4% on the remaining amount. i.e 14,280 - (3000+3000+3000) = 14,280 - 9000 = Rs. 5280

∴
`$4 \% * 5280 $`

`$=(4)/(100) * 5280$`

= Rs. 211.2

Thus the total amount of the income tax the man has to pay is

= 60+90+90+211.2

= Rs. 451.2