Understanding taxable income with brown rice #LLAShorts 119

What is the taxable income for senior citizen.

Miss Varsha is 26 years old and her taxable income is Rs. 2,30,000. What income tax does she pay ?

Mr. Ajay is 36 years old. His taxable income is Rs, 2,40,000. Will he have to pay income tax or not ?

Govind earned an annual salary of Rs. 330,000. His employer deducted Rs. 3000 per month from his salary for the first 11 months of the financial year. Find the amount of tax he paid (in Rs.) in the last month of that year using the following information. If standard deduction is 45% of salary or Rs.150,000 whichever is less. Income tax on taxable income is calculated in the following manner. (i) Less then or equal to Rs. 50,000-Nil (ii) From Rs.50,000 to Rs. 100,000 : 20% of the amount exceeding Rs.50,000 (iii) From Rs.100,001 to Rs.150,000 : Rs.10,000 I 30% of the amount exceeding Rs.100,000 (iv) Above Rs. 150,000: Rs. 25,000+ 40% of the amount exceeding Rs. 150,000