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CLAT CLAT Solved Paper-2011

  • question_answer
    Jogen's taxable income for 2010-11 is Rs 500000. The tax rates are (i) nil for first 150000, (ii) 10% for 150001-300000 and (iii) 20% for the remaining. His tax liability is

    A)  Rs 45000                   

    B)  Rs 50000

    C)  Rs 55000                   

    D)  Rs 60000

    Correct Answer: C

    Solution :

    Ans.    Taxable income at 10% of 150000z             = 15000             Taxable income at 20% = 40000             His tax liability = Rs 55000


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