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22. | (a) Mr. Ashok Sharma's income from his salary in the year 2005-2006 was Rs.2,96,000. Savings: - Contribution towards Provident Fund: Rs.1,500 per month
- Contribution towards LIC premium : Rs. 10.000 per year
- National Saving Certificates : Rs. 15,000
Donations: - To Prime Minister's Relief Fund : Rs. 12,000 (eligible for 100% tax exemption)
If a sum of Rs. 4,000 was deducted every month towards Income Tax from his salary for the first ll months of the year, calculate Mr. Sharma's income tax liability in the last month of the financial year. Tax slab:- Upto Rs. 50,000 | : | No tax. | Rs. 50,001 to Rs. 60,000 | : | 10% of the income exceeding Rs. 50,000. | Rs. 60,001 to Rs. 1,50,000 | : | Rs. 1,000 + 20% of the income exceeding Rs. 60,000. | Above Rs. 1,50,000 | : | Rs. 19,000 + 30% of the income exceeding Rs. 1,50,000. | Standard Deduction | : | Rs. 20,000. | Rebate in tax | : | 20% of the total savings or Rs. 14,000, whichever is less. | Surcharge | : | 10% of the total tax payable after rebate. | | | | | |
23. | (b) Five years ago, a woman's age was the square of her son's age. Ten years hence her age will be twice that of her son's age. Find:- (i) The age of the son five years ago | | | | |
24. | (ii) The present age of the woman. (Type in the answers separated by commas. Leave no spaces around the commas.) | | | | |
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