Income Tax Calculation

XAT 2011 · QADI · Medium · Arithmetic

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Passage / data set

Based on the following information

Individual & HUF below age of 65 yearsWomen below age of 65 yearsTax Rates
Income up to Rs. 1,60,000/-Income up to Rs. 1,90,000/-Nil
Rs. 1,60,001 to Rs. 3,00,000/-Rs. 1,90,001 to Rs. 3,00,000/-10%
Rs. 3,00,001 to Rs. 5,00,000/-Rs. 3,00,001 to Rs. 5,00,000/-20%
Above Rs. 5,00,001Above Rs. 5,00,00130%

Total income tax payable is obtained by adding two additional surcharges on calculated income tax:

  • Education Cess: 2% on the amount of income tax.
  • Secondary and Higher Education Cess: 1% on the amount of income tax.

Question 1 of 2

Sangeeta is a young working lady. Towards the end of the financial year 2009 - 10, she found her total annual income to be Rs. 3, 37, 425/ -. What % of her income is payable as income tax?

  1. A.

    5.64

  2. B.

    6.82

  3. C.

    7.38

  4. D.

    8.10

  5. E.

    None of the above

Question 2 of 2

Mr. Madan observed his tax deduction at source, done by his employer, as Rs. 3,17,910/-. What was his total income (in Rs.) if he neither has to pay any additional tax nor is eligible for any refund?

  1. A.

    13,48,835/-

  2. B.

    14,45,522/-

  3. C.

    14,47,169/-

  4. D.

    15,70,718/-

  5. E.

    None of the above

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