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DIRECTIONS (Qs. 44 and 45) : Given questions are basedon the following information
Income – Tax Rates for Financial Year 2009-10
Total income tax payable is obtained by adding two additional surcharges on calculated income tax.
⇒ Education Cess : An additonal surcharge called ‘Education Cess’ is levied at the rate of 2% on the amount of income tax.
⇒Secondary and Higher Education Cess : An additional surcharge called ‘Secondary and Higher Education Cess’ is levied at the rate of 1% on the amount of income tax.
Income – Tax Rates for Financial Year 2009-10
| Individual & HUF below age of 65 years | Women below age of 65 years | Tax Rates |
| Income up to ₹ 1,60,000/- | Income up to ₹1,90,000/- | Nil |
| ₹ 1,60,000 to ₹ 3,00,001/- | ₹1,90,001 to ₹ 3,00,000/- | 10% |
| ₹ 3,00,001 to ₹ 5,00,000/- | ₹ 3,00,001 to ₹ 5,00,000/- | 20% |
| Above ₹ 5,00,001 | Above ₹ 5,00,001 | 30% |
⇒ Education Cess : An additonal surcharge called ‘Education Cess’ is levied at the rate of 2% on the amount of income tax.
⇒Secondary and Higher Education Cess : An additional surcharge called ‘Secondary and Higher Education Cess’ is levied at the rate of 1% on the amount of income tax.
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Question : 45
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