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Mr Ranvir Patnikar earns an annual salary of Rs. 270,000. If his employer deducts Rs. 3000 every month from his salary for the first 11 months, then calculate the amount he has to pay towards tax in the last month of the financial year. Standard deduction is 40% of the salary or Rs.30,000, whichever is less. The income tax on his earnings is calculated based on data given below. Slabs for income tax: (i) Upto Rs.50,000-Nil (ii) From Rs.50,000- 10% of amount Rs100,000 exceeding 50,000 (iii) From Rs.100,001-Rs.5000+ 20% of the Rs. 200,000 amount exceeding Rs.1,00,000 (iv) Above Rs.200,000-Rs25,000+ 30% of the amount exceeding Rs200,000 |
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Answer» Rs.3000 |
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