Mathematics - Class X Question Paper - Central Board Of Secondary Education Page 8
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33Q25. Anil's total annual salary excluding HRA is Rs. 1,96,000. He contributes Rs., 5000 per
month in his G.P.F. How much he should invest in N.S.C. to get maximum rebate?
After getting maximum rebate he wants to pay income tax in equal monthly instalments.
Find the amount which should be deducted per month towards tax from his salary.
Assume the following for calculating income tax :
a)
Standard deduction
: (i) 40% of the total income subject to a
maximum of Rs. 30,000/- in case the total
annual income is up to Rs. 100,000.
(ii) Rs. 30,000/- in case the total annual
income is from Rs. 100,001 to Rs.
500,000.
b)
Rate of income Tax
:
Slab
Income Tax
i) Up to Rs. 50,000
No tax
ii) From Rs. 50,001 to Rs. 60,000
10% of the amount exceeding Rs. 50,000
iii)From Rs. 60,001 to Rs. 1,50,000
Rs. 1000 + 20% of the amount exceeding Rs.
60,000
iv) Above Rs. 1,50,000
Rs. 19,000 + 30% of the amount exceding Rs.
1,50,000
c)
Rebate in income tax
: i) 20% of the amount of saving subject to
maximum Rs. 14,000/-, if gross income
is upto Rs. 1,50,000
ii) 15% of the amount of saving subject to a
maximum of Rs. 10,500/-if gross income
is above Rs. 1,50,000 but not exceeding
Rs. 500,000
143
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