alleryStart learning →Q1 profit Rs 4 lakh taxed at 25%. Annual rate now 30%, year-to-date profit Rs 10 lakh. Q2 tax is:
ARs 1,50,000
BRs 3,00,000
CRs 1,80,000
DRs 2,00,000
Answer & Solution
Correct answer: D. Rs 2,00,000
Year-to-date tax is 30 percent of Rs 10,00,000, which is Rs 3,00,000; less Rs 1,00,000 already booked in Q1, Q2 carries Rs 2,00,000.
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