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compute income tax for the nett income of Rs 325560
In case of
Individual
Resident women
Senior citizen
Firm add education cess on the tax

Answer Posted / maruthi

net income = 325560/- as per A.Y.2009-2010.

individual

150001 to 300000 - 10%

in this case net income Rs.325560/- it is more than

Rs.300000/-

Rs.15000+20% ot the amount exceeding Rs.300000/- (325560-

300000)=25560*20/100=5112+15000=20112/-

Resident women

in this case net income Rs.325560/- it is more than 300000/-

Rs.12000+20% of the amount exceeding Rs.300000/- (325560-

30000)=25560*20/100=5112+12000=17112/-

seniore citizen

in this case net income Rs.325560/- it is more than 300000/-

Rs.7500+20% of the amount exceeding Rs.300000/- (325560-

30000)=25560*20/100=5112+7500=12612/-

as per rule firm rate 30%

example =Rs.325560/- *30%

=Rs.97668*3% EC

Rs.97668*3/100= 2930.04

Is This Answer Correct ?    6 Yes 0 No



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