1.

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

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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