For taxable income Rs. $12,00,000$ (old regime), tax (before cess) is

For taxable income Rs. $12,00,000$ (old regime), tax (before cess) is
  1. Rs. $1,72,500$
  2. Rs. $1,12,500$
  3. Rs. $2,40,000$
  4. Rs. $1,50,000$

Solution

$5\%$ of $2.5L = 12{,}500$. $20\%$ of $5L = 1{,}00{,}000$. $30\%$ of $2L = 60{,}000$. Total $= 1{,}72{,}500$.

Asked in: MH-SSC-9

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