contestada

After deducting 10% provident fund a married person draws Rs 40,500 salary per month and one month's salary as festival bonus, the person pays Rs 14,500 annually as the premium of his/her insurance. Calculate the annual income tax paid by the person.​

Respuesta :

abiolataiwo2015

The  annual income tax paid by the person is: $4,500.

Annual income tax

Using this formula

Annual income tax=[Salary per month÷(1-percentage deduction)]- Salary per month

Let plug in the formula

Annual income tax=[40,500÷(1-10%)]-40,500

Annual income tax=45,000-40,500

Annual income tax=$4500

Therefore the annual income is $4,500.

Learn more about annual income tax here:brainly.com/question/26316390

#SPJ1

Otras preguntas