Observe the table given below. Check and decide, whether the individuals have to pay income tax. Miss Nikita (2,34,000)Mr. Kulkarni (3,27,000)

Question

Observe the table given below. Check and decide, whether the individuals have to pay income tax.

Sr No.	Individuals	Age	Taxable income   (₹)	Will have  to pay income  tax or not
i.	MIss Nikita	27	₹ 2,34,000
ii.	Mr. kulkarni	36	₹ 3,27,000
iii.	Miss Mehta	44	₹ 5,82,000
iv.	Mr.Bajaj	64	₹ 8,40,000
v.	Mr.Desilva	81	₹ 4,50,000

Answer 1

i. Miss Nikita’s age = 27 years < 60 years 

Miss Nikita’s income = ₹ 2,34,000 

Miss Nikita’s income is below the basic exemption limit of ₹ 2,50,000.

∴ Miss Nikita will not have to pay income tax. 

ii. Mr. Kulkarni’s age 36 years < 60 years 

Mr. Kulkarni’s income = ₹3,27,000 

Mr. Kulkarni’s income is above the basic exemption Limit of ₹2,50,000. 

∴ Mr. Kulkarni will have to pay income tax. 

iii. Miss Mehta’s age = 44 years < 60 years Miss Mehta’s income = ₹5.82,000 

Miss Mehta’s income is above the basic exemption limit of ₹2,50,000. 

∴ Miss Mehta will have to pay income tax. 

iv. Mr. Bajaj’s age = 64 years (Age 60 to 80 years) 

Mr. Bajaj’s income = ₹8,40,000

Mr. Bajaj’s income is above the basic exemption Limit of ₹3,00,000. 

∴ Mr. Bajaj will have to pay income tax. 

v. Mr. Desilva’s age = 81 years > 80 years 

Mr. Desilva’s income = ₹4,50,000 

Mr. Desilva’s income is below the basic exemption limit of ₹ 5,00.000.

∴ Mr. Desilva will not have to pay income tax.

Sr No.	Individuals	Age	Taxable income   (₹)	Will have  to pay income  tax or not
i.	MIss Nikita	27	₹ 2,34,000	No
ii.	Mr. kulkarni	36	₹ 3,27,000	Yes
iii.	Miss Mehta	44	₹ 5,82,000	Yes
iv.	Mr.Bajaj	64	₹ 8,40,000	Yes
v.	Mr.Desilva	81	₹ 4,50,000	No