Calculate Income Tax of following employees based on the following criteria.
Name of employee |
Sex |
Total income |
Manoj |
Male |
3,00,000 |
Preveen |
Female |
4,50,000 |
Naveen |
Male |
7,00,000 |
Riya |
Female |
6,70,000 |
Rohit |
Male |
5,00,000 |
Latha |
Female |
4,00,000 |
Arya |
Female |
8,60,000 |
Conditions
1. Tax rate is 40% of Total taxable Income.
2. For male, standard deduction is 150,000
3. For female, if taxable income is less than or equal to Rs.4,00,000, then the standard deduction is 2,00,000, otherwise 1,50,000