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  • Prachi Intern Ass.2

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    Prachi Pilani
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    This document outlines the tax calculation for an individual with an income of 80,00,000 rupees. It shows that the first 2,50,000 rupees are taxed at 0%, the next 2,50,000 rupees are taxed at 5%, the subsequent 5,00,000 rupees are taxed at 20%, and any amount over 70,00,000 rupees is taxed at 30%. Based on these tax slabs, the total tax amount to be paid on an income of 80,00,000 rupees is 22,12,500 rupees.

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    This document outlines the tax calculation for an individual with an income of 80,00,000 rupees. It shows that the first 2,50,000 rupees are taxed at 0%, the next 2,50,000 rupees are taxed at 5%, the subsequent 5,00,000 rupees are taxed at 20%, and any amount over 70,00,000 rupees is taxed at 30%. Based on these tax slabs, the total tax amount to be paid on an income of 80,00,000 rupees is 22,12,500 rupees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Prachi Intern Ass.2

    Uploaded by

    Prachi Pilani
    This document outlines the tax calculation for an individual with an income of 80,00,000 rupees. It shows that the first 2,50,000 rupees are taxed at 0%, the next 2,50,000 rupees are taxed at 5%, the subsequent 5,00,000 rupees are taxed at 20%, and any amount over 70,00,000 rupees is taxed at 30%. Based on these tax slabs, the total tax amount to be paid on an income of 80,00,000 rupees is 22,12,500 rupees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Question on tax slab

    (At the age from 0-60)

    Amount Tax (% ) Calculated tax (Am.)


    80,00,000
    Less: 2,50,000 Nil 0
    = 77,50,000
    Less: 2,50,000 5% 12,500
    = 75,00,000
    Less: 5,00,000 20% 1,00,000
    = 70,00,000 30% 21,00,000
    22,12,500

    Total tax amount will be paid = Rs.22,12,500 on Rs.80,00,000

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