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Jogen’s taxable income for 2010-11 is rs.5,00,000. Tax rates are 1. Nil for 1st 150000; 2. 10% for 150000-300000 and 20% for the remaining. his tax liability is?
  • a)
    65000   
  • b)
    70000
  • c)
    55000 
  • d)
    10000
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Jogen’s taxable income for 2010-11 is rs.5,00,000. Tax rates are...
Total tax = (1,50,000) x 0 + 1,50,000 x 
⇒ 55, 000
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Jogen’s taxable income for 2010-11 is rs.5,00,000. Tax rates are...
I'm sorry, but I'm not sure what you are referring to. Can you please provide more context or information about "Jogen"?
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Community Answer
Jogen’s taxable income for 2010-11 is rs.5,00,000. Tax rates are...
His income falls into 3 categories...

Category 1 : up to 1.5Lakhs ( no Tax)
Category 2: from 1.5 to 3 Lakhs (i.e 1.5 lakhs and 10 % of this is 15,000)
Category 3: from 3 to 5 lakhs ( i.e 2 lakhs and 20% of this is 40,000)

Hence tax is... 0 + 15000 + 40000 = 55000
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Jogen’s taxable income for 2010-11 is rs.5,00,000. Tax rates are 1. Nil for 1st 150000; 2. 10% for 150000-300000 and 20% for the remaining. his tax liability is?a)65000 b)70000c)55000d)10000Correct answer is option 'C'. Can you explain this answer?
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