Question

the early income of a girl is rupees 150000 the tax free allowance is rupees 100000 if the text for the first rupees 20000 is 12% and for the remaining is 15% how much tax should she pay in a year ? ​

Answer 1

Rs 6900

Explanation:

To calculate the tax amount the girl should pay in a year, we need to determine the taxable income and then apply the corresponding tax rates.

The taxable income is calculated by subtracting the tax-free allowance from the girl's early income:

Taxable Income = Early Income - Tax-Free Allowance

Taxable Income = 150,000 - 100,000

Taxable Income = 50,000

Now, we can calculate the tax amount based on the given tax rates:

For the first 20,000 rupees, the tax rate is 12%:

Tax on First 20,000 = 20,000 * 0.12

Tax on First 20,000 = 2,400

For the remaining taxable income (30,000 rupees), the tax rate is 15%:

Tax on Remaining 30,000 = 30,000 * 0.15

Tax on Remaining 30,000 = 4,500

Finally, we add the two tax amounts to get the total tax she should pay in a year:

Total Tax = Tax on First 20,000 + Tax on Remaining 30,000

Total Tax = 2,400 + 4,500

Total Tax = 6,900

Therefore, the girl should pay 6,900 rupees in tax in a year.