FIN623 GDB SOLUTION 2023

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FIN623 GDB SOLUTION 2023

 

January 29, 2023admin
Total Marks5
Starting DateWednesday, January 25, 2023
Closing DateMonday, January 30, 2023
StatusOpen
Question TitleGDB 01
Question DescriptionDetermine taxable income of Mr. Anonymous in the light of following particulars pertaining to tax year 2023. ParticularsRs.1Monthly basic salary270,0002Conveyance provided for personal and official use  Value of car purchased by the employer5,000,0003Loan taken from employer @ 9% interest1,500,000

Solution:

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1.Where the taxable income does not exceed Rs. 150,000 0%

  1. Where the taxable income exceeds Rs. 150,000 but does not exceed Rs. 200,000 0.25%
  2. Where the taxable income exceeds Rs. 200,000 but does not exceed Rs. 250,000 0.50%
  3. Where the taxable income exceeds Rs. 250,000 but does not exceed Rs. 300,000 0.75%
  4. Where the taxable income exceeds Rs. 300,000 but does not exceed Rs. 350,000 1.50%
  5. Where the taxable income exceeds Rs. 350,000 but does not exceed Rs. 400,000 2.50%
  6. Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 500,000 3.50%
  7. Where the taxable income exceeds Rs. 500,000 but does not exceed Rs. 600,000 4.50%
  8. Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 700,000 6.00%
  9. Where the taxable income exceeds Rs. 700,000 but does not exceed Rs. 850,000 7.50%
  10. Where the taxable income exceeds Rs. 850,000 but does not exceed Rs. 950,000 9.00%

    11.  

  11. Where the taxable income exceeds Rs. 950,000 but does not exceed Rs. 1,050,000 10.00%
  12. Where the taxable income exceeds Rs. 1,050,000 but does not exceed Rs. 1,200,000 11.00%
  13. Where the taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 1,500,000 12.50%
  14. Where the taxable income exceeds Rs. 1,500,000 but does not exceed Rs. 1,700,000 14.00%
  15. Where the taxable income exceeds Rs. 1,700,000 but does not exceed Rs. 2,000,000 15.00%
  16. Where the taxable income exceeds Rs. 2,000,000 but does not exceed Rs. 3,150,000 16.00%
  17. Where the taxable income exceeds Rs. 3,150,000 but does not exceed Rs. 3,700,000 17.50%
  18. Where the taxable income exceeds Rs. 3,700,000 but does not exceed Rs. 4,450,000 18.50%
  19. Where the taxable income exceeds Rs. 4,450,000 but does not exceed Rs. 8,400,000 19.00%
  20. Where the taxable income exceeds Rs. 8,400,000 20.00%

 

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