Slab tax before cess for an individual earning Rs 10 lakh under new regime, AY 2021-22?
ARs 62,500
BRs 75,000
CRs 1,00,000
DRs 87,500
Answer & Solution
Correct answer: B. Rs 75,000
Rs 12,500 plus Rs 25,000 plus Rs 37,500 on the first three taxable bands equals Rs 75,000.
Keep practising Income Tax: Computation under Alternative Tax Regimes
Browse all Income Tax: Computation under Alternative Tax Regimes questions for CA Inter, or explore more Taxation topics.
Related questions
Donations to charity qualify for deduction under which section?Which section allows a deduction for health insurance premium?Interest paid on a student loan is deductible under which section?Which section provides for best judgement assessment?Which section covers scrutiny assessment?The penalty for concealment under section 271(1)(c) ranges overWhat share of tax is the 270A penalty when income is merely under-reported?Misreporting of income under 270A draws a penalty equal to what share of tax?