02:30 BEST MATCH Mr Ranvir Patnikar earns an annual salary of Rs 270000 . If his employer deducts Rs 3000 every month from his salary for the first 11 months, then calculate the amount he has to pay towards tax in the last month of the financial year. Standard deduction is $40 \%$ of the salary or $\mathrm{Rs} 30000$, whichever is less. The income tax on his earnings is calculated based on the data given below. Slabs for income tax:(i) Upto Rs $50000-$ Nil(ii) from Rs 50000 to $-10 \%$ of the amount Rs 100000 exceeding 50000(iii) from Rs 100001 to $-$ Rs $5000+20 \%$ of the Rs 200000 amount exceeding Rs 100000(iv) Above Rs $200000-$ Rs $25000+30 \%$ of the amount exceeding Rs 200000(1) $\mathrm{Rs} 3000$(2) $\operatorname{Rs} 4000$(3) $\mathrm{Rs} 5000$(4) $\mathrm{Rs} 6000$

02:44 Govind earned an annual salary of Rs 330000. His employer deducted Rs 3000 per month from his salary for the first 11 months of the financial year. Find the amount of tax he paid (in $\mathrm{Rs}$ ) in the last month of that year using the information below. If the standard deduction is $45 \%$ of the salary or Rs 150000 , which ever is less. The income tax on the TI (taxable income) is calculated in the following manner.(i) Less than or equal to Rs $50000-$ Nil(ii) From Rs 50000 to Rs $100000: 20 \%$ of the amount exceeding Rs 50000(iii) From Rs 100001 to Rs 150000 : Rs $10,000+30 \%$ of the amount exceeding Rs 100000(iv) Above Rs 150000: Rs $25000+40 \%$ of the amount exceeding Rs 150000(1) 6400(2) 5600(3) 4800(4) 4600

05:08 Calculate Tax Liability from the following information given by Mr. Amit Sharma. He was receiving a salary of 8,000 per month, apart from conveyance allowance of 300 per month (150 per month actually spent). He had an house whose GAV is 1,50,000. Municipal tax 3,000 out of which 1,500 is paid by the tenant. His income from other sources comes to 45,000. He has contributed 40,000 to PPF. He paid Rs. 5,000 towards medical insurance premium.

02:10 The tables to the right show recent state income tax schedules for individual and married couples. If taxable income is over $15,000, write a piecewise definition for the tax due T(x) on an income of dollars. For an individual, if taxable income is over $15,000 but less than or equal to $30,000, the tax due T(x) is $450 plus 3% of the excess over $15,000. If taxable income is over $30,000, the tax due T(x) is $1,290 plus 6% of the excess over $30,000.For single, married filing separately, or head of household, if taxable income is over $30,000 but less than or equal to $60,000, the tax due T(x) is 3% of the taxable income plus $900. If taxable income is over $60,000 but less than or equal to $560,000, the tax due T(x) is $2,580 plus the excess over $60,000.For married filing jointly or qualified surviving spouse, the tax due T(x) is 3% of the taxable income plus $5,638 if taxable income is over $30,000 but less than or equal to $560,000. If taxable income is over $560,000, the tax…

02:35 Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.)a. A head of household with taxable income of $58,500.b. A single person with taxable income of $36,400.c. Married taxpayers filing jointly with taxable income of $72,700.Rate onMarried Taxpayers Filing JointlyTaxable IncomeSingle TaxpayersHeads of Household10%Up to $59,325Up to $18,650Up to $13,350$9,326-$37,950$18,651-$75,900$13,351-$50,80025%$37,951-$59,900$75,901-$153,100$50,801-$131,20028%$91,901-$191,650$153,101-$233,350$131,201-$212,50033%$191,651-$416,700$233,351-$416,700$212,501-$416,70035%$416,701-$418,400$416,701-$470,700$416,701-$444,55039%Over $418,401Over $470,701Over $444,551

00:15 Man earns $3000 and his wife earns $1000 per month. They have two children. National insurance of 5% of all earnings must be paid before taxes are deducted. Allowances and tax rates are as follows: Rates of taxable income: - 10% on first $2000 each adult - $500 per annum per child - 20% on next $2000 - 30% on next $4000 - 40% on the remainder Calculate: the amount they paid for national insurance.

00:33 Text: Study the income tax table given below and compute the following problem. Assessed as Individuals Assessed 38 Couples Particulars Taxable Income (Rs) Tax Rate Taxable Income (Rs) Tan Marda First Tax slab 4,00,000 1% 4,50,000 196 1,00,000 10% 1,00,000 1046 Next (4,00,000 to 5,00,000) (4,50,000 to 5,50,000) 2,00,000 20% 2608, 00,000 2096 Next (5,00,000 to 7,50,000) (5,00,000 to 7,00,000) 13,00,000 30% 12,50,000 (7,50,000 to 20,00,5 000) 30% Next (Z,00,000 to 20,00,000) Balance Exceeding 20,00,000 36% 20,00,000 36% The monthly income of an individual is Rs 27,900 and one month's salary is provided a) as Dashain bonus. How much income tax should he/she pay in a year? The monthly salary of a married couple is Rs 40,500 plus Dashain bonus of b) Rs 30,000. Calculate the income tax paid by the couple in a year.

00:39 Mrs. X has the following income during the previous year 2019-20: (i) Salary: Rs. 6,20,000 (ii) Dearness Allowance (forming part of salary for retirement benefits): Rs. 1,44,000 (iii) Medical Allowance (Actual expenditure Rs. 56,000): Rs. 60,000 (iv) Education Allowance (for three children): Rs. 10,400 (v) Rent-free house in Delhi for which X Ltd., the employer, paid Rs. 10,000 per month as rent. The house is equipped with rented furniture. The rent of the furniture is Rs. 6,000 per month. (vi) The employer had provided her a domestic servant, a sweeper, and a watchman. The employer paid Rs. 1,000 per month to each. (vii) The employer spent Rs. 5,000 on her refresher course. (viii) The employer paid her telephone bills of Rs. 5,000 (ix) Professional tax paid by Mrs. X is Rs. 2,400 Compute her taxable income for the assessment year 2020-21 assuming that she has no other income.

00:39 In Uganda, the income tax structure is such that a person's monthly gross income has certain allowances deducted from it before it is subjected to taxation. The allowances are as follows: - Marriage allowance: 100,000/= per month - Water and electricity: 13,000/= per month - Insurance: 120,000/= per annum - Housing: 70,000/= per month - Transport: 1,100/= per month - Medical: 300,000/= per annum - Family allowance for only three (3) children: - Child above 18 years: 11,000/= - Child aged above 10 but below 18: 9,000/= - Child below 10 years: 0/= Jane has a family of children; 3 of whom are aged below 10, one is 14, one is 16, and the other is 20 years old. The table below shows the tax rates: Monthly Taxable income Tax rate (%) OoOOO1 - 20,000 20,001 - 100,000 100,001 - 200,000 200,001 - 300,000 300,001 - 500,000 Above 500,000 Given that Jane is married and earns a gross monthly income of 800,000/=, calculate: (a) the total monthly allowances she earn…