Question

Mrs. Gurung is a bank Manager in a development bank. Her monthly is Rs 50,000.
ther annual income is equivalent to her 15 month's salary, find her income tax
in a year.

Answer 1

The income tax of Mrs Gerung based on the information given in a year will be Rs 142000.

How to calculate the tax?

From the information given, the monthly income is s Rs 50,000 and the annual income is equivalent to her 15 month's salary,

The income tax will be:

= 50000 + (450000 × 1%) + (100000 × 10%) + (200000 × 20%) + (125000 × 30%)

= 50000 + 4500 + 10000 + 40000 + 37500

= 142000

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