Question-73872

Question Number 73872 by azizullah last updated on 16/Nov/19

Answered by $@ty@m123 last updated on 16/Nov/19

R e b a t e m e a n s p a r t o f i n c o m e o n

w h i c h I n c o m e T a x i s e x e m p t e d .

A T Q,

A n n u a l I n c o m e = R s . 8000 \times 12

= 96000

R e b a t e = 80000

∴ T a x a b l e I n c o m e = 96000 - 80000

= 16000

∴ I n c o m e T a x = 5 % o f 16000

= R s . 800 .

Commented by azizullah last updated on 16/Nov/19

A bundle of thanks sir