Mr. Sharma's taxable income is Rs. $8,00,000$. His tax (old regime, before cess) is

Mr. Sharma's taxable income is Rs. $8,00,000$. His tax (old regime, before cess) is
  1. Rs. $72,500$
  2. Rs. $60,000$
  3. Rs. $80,000$
  4. Rs. $1,00,000$

Solution

$5\%$ of $2.5L = 12{,}500$. $20\%$ of $3L = 60{,}000$. Total $= 72{,}500$.

Asked in: MH-SSC-9

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