Question
Mr. A (age 45) has income from business ₹8,00,000 and
capital gains (LTCG) ₹1,50,000. What is his tax liability? (Assume no deductions)Solution
Total Income = ₹9,50,000. Tax: Up to ₹2.5L - Nil; ₹2.5-5L @5% = ₹12,500; ₹5-9.5L @20% = ₹90,000. Total = ₹1,02,500. Less: Rebate u/s 87A not available as income > ₹7L. Add cess 4% = ₹4,100. Total ≈ ₹1,06,600. LTCG taxed separately @10% above ₹1L = ₹5,000. Total = ₹1,11,600. Simplified calculation gives approximate b).
In the long run, the steady state rate of growth of a capitalist economy
Judging from the figure, a person that chooses to consume bundle C is likely to
In the context of pollution control, define and distinguish between the Marginal Abatement Cost (MAC) and the Total Abatement Cost (TAC) for a firm.
Suppose nominal GDP equals 1,000 units and money supply equals 250 units. Based on the quantity theory of money, the velocity of money equals.
The index of import prices stands at 150 and that of exports is 180. What is the terms of trade
If investment is not responding to change in interest rate, then which of the following is true?
Ability to pay principle is related with?
In the context of the Classical model, which of the following would cause a shift in the long-run aggregate supply curve (LRAS)?
If the exchange rate of some economy depreciates vis−a−vis US $ and if the Marshal Lerner condition is satisfied, then the current account deficit o...
All of the following curves are U-shaped, except the
