Jogen rsquo s taxable income for 2010 11 is Rs 5 00 000 The tax rates are i nil for first 1 50 ...........

Quantitative Aptitiude (CLAT) Percentage

Jogen’s taxable income for 2010-11 is Rs. 5,00,000. The tax rates are (i) nil for first 1,50,000, (ii) 10% for 150,001-3,00,000, and (iii) 20% for the remaining. His Tax liability is:

Rs. 45000

Rs. 50000

Rs. 55000

Rs. 60000

Explanation:

Tax on first1.5 lakhs = 0
Tax on next 1.5 lakhs = 10% (1.5 lakhs) = Rs 15000
Tax on remaining 2 lakhs = 20% (2 lakhs) = Rs 40000
i.e.total tax = Rs 55000.