For taxable income Rs. $3,00,000$ (old regime, < 60), tax payable (after Sec 87A rebate) is

For taxable income Rs. $3,00,000$ (old regime, < 60), tax payable (after Sec 87A rebate) is
  1. Nil
  2. Rs. $2,500$
  3. Rs. $5,000$
  4. Rs. $7,500$

Solution

Computed tax $= 5\%$ of $50{,}000 = 2500$. Sec 87A rebate cancels it.

Asked in: MH-SSC-9

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