Last year, the yearly income of a service man was Rs. 96,000. Income tax was not levied up to yearly income Rs. 75,000 and 10% of his y

Question

Last year, the yearly income of a service man was Rs. 96,000. Income tax was not
levied up to yearly income Rs. 75,000 and 10% of his yearly income was invested in
civil investment fund, which was also tax free. If 15% tax was lived on the rest of the
income how much yearly income tax should be pay?​

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Josie 2 weeks 2021-10-07T16:19:34+00:00 1 Answer 0

Answers ( )

    0
    2021-10-07T16:20:39+00:00

    Answer:

    Step-by-step explanation:

    Amount invested in Civil investment fund= 10% of 96000

    =\frac{10}{100}*96000=10*960=9600

    Remaining Taxable  Amount=96000 -(75000+9600)

                                  = 96000 – 84600

                                  = Rs. 11400

    Tax = 15% of 11400

    =\frac{15}{100}*11400=15*114=1710

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