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Eswar earned an annual salary of Rs. 102,000. The standard deduction was Rs. 30,000. Donations upto `10%` of gross salary were exempt from tax. He donated Rs. 1050 per month to the National Defence Fund. Find his net taxable income. (in Rs.)A. 59400B. 61800C. 60200D. 60800 |
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Answer» Correct Answer - B Gross salary =Rs.102,000 Standard deduction for a salary of Rs.102,000 is Rs.30,000. `:.` Standard deduction=Rs.30,000 The total amount donated (in Rs.) =(12)(1050)=12,600 But, `10%` of the total salary is Rs.10,200 which is less than Rs. 12,600. which is less than Rs.12,600. Net taxable income =Rs.102,000-Rs.(30,000+10,200)=Rs.61,800. |
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