Question
This year’s budget proved the phrase
“expect the unexpected” from a personal tax perspective. There was much speculation until the budget day regarding reduction in slab rates and other sops for the salaried class. However, the Finance Minister came up with a simple, yet impactful set of proposals to please the common man. The existing tax rate of 10% for income range between ₹ 2.5 lakh and ₹ 5 lakh has been brought down to 5%, which has cheered many. _________________. Ironically, we may not know how much of such 80C deductions could be utilised by the low-income group taxpayers, but still the benefit stands, if the qualifying investments are made to avail the deduction under 80C of the act. Further, this budget also simplified the tax filing process as a one pager return for the salaried class up to a taxable income of ₹5 lakh without any business income. In each of the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five choices given to make the passage complete and coherent (Coherent means logically complete and sound)Solution
This year’s budget proved the phrase “expect the unexpected” from a personal tax perspective. There was much speculation until the budget day regarding reduction in slab rates and other sops for the salaried class. However, the Finance Minister came up with a simple, yet impactful set of proposals to please the common man. The existing tax rate of 10% for income range between ₹ 2.5 lakh and ₹ 5 lakh has been brought down to 5%, which has cheered many. This, coupled with the existing deduction available under section 80C of the act will ensure that individuals won’t have to pay any income tax up to an income of ₹ 4 lakh. Ironically, we may not know how much of such 80C deductions could be utilised by the low-income group taxpayers, but still the benefit stands, if the qualifying investments are made to avail the deduction under 80C of the act. Further, this budget also simplified the tax filing process as a one pager return for the salaried class up to a taxable income of ₹5 lakh without any business income.
Maya had Rs. 12000 with her. She invested 30% of the sum at 8% p.a. and the rest at 18% p.a., both at simple interest for 5 years each. Find the total i...
Akshay invested Rs. 1950 in two schemes P and Q in the respective ratio of 8:5. Scheme P and Q are offering simple interest at the rate of 8% per annum ...
A man deposited Rs. 12000 at 10% compound interest, compounded annually while Rs. 10500 at 13% simple interest per annum. What will be the difference be...
A certain sum when invested for 3 years in a scheme offering simple interest of 10% p.a. gives an interest of Rs. 756. What is 130% of the sum invested?
Simran Funded Rs. 70,000 in two different SIP's. She funded the smaller amount at CI of 20% p.a. compounded annually, and larger amount at SI of 16.5% f...
Rs. 5000 when invested at simple interest of r% p.a. amounts to Rs. 7200 in 24 months. If the same sum had been invested for 1 year at compound interest...
- Anjali invests Rs. 28,000 in scheme 'C' and Rs. 22,000 in scheme 'D'. Scheme 'C' gives 14% interest per annum for 2 years and scheme 'D' gives 11% per annu...
If an investment of Rs. 5,120 grows to Rs. 6,480 in two years when compounded annually at an interest rate of 'R%' per annum, calculate the value of 'R'.
A man deposited 25% of his salary to a bank which offers compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 y...
- If Rs. 80,000 is invested at 9% per annum simple interest for 6 years, how much amount will be received in the end?
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