Alerts Wishlist Cart

If an individual earns Rs. 6,00,000 in a financial year and has a deduction of R

Practice Questions

Q1
If an individual earns Rs. 6,00,000 in a financial year and has a deduction of Rs. 1,50,000 under Section 80C, what is the taxable income?
  1. Rs. 4,50,000
  2. Rs. 5,00,000
  3. Rs. 6,00,000
  4. Rs. 7,50,000

Questions & Step-by-Step Solutions

If an individual earns Rs. 6,00,000 in a financial year and has a deduction of Rs. 1,50,000 under Section 80C, what is the taxable income?
  • Step 1: Identify the total earnings of the individual, which is Rs. 6,00,000.
  • Step 2: Identify the deductions available under Section 80C, which is Rs. 1,50,000.
  • Step 3: Subtract the deductions from the total earnings: Rs. 6,00,000 - Rs. 1,50,000.
  • Step 4: Calculate the result of the subtraction, which is Rs. 4,50,000.
  • Step 5: The result is the taxable income, which is Rs. 4,50,000.
  • Income Tax Calculation – Understanding how to calculate taxable income by subtracting eligible deductions from total income.
Biology (School & UG)
Biology (School & UG)
Chemistry (School & UG)
Chemistry (School & UG)
Civil Engineering
Civil Engineering
Commerce & Accountancy
Commerce & Accountancy
Computer Science & IT
Computer Science & IT
Current Affairs & GK
Current Affairs & GK
Data Structures & Algorithms
Data Structures & Algorithms
eBooks
eBooks
Electrical & Electronics Engineering
Electrical & Electronics Engineering
English (School)
English (School)
General Aptitude
General Aptitude
General Knowledge
General Knowledge
General Knowledge & Current Affairs
General Knowledge & Current Affairs
Languages & Literature
Languages & Literature
Law & Legal Studies
Law & Legal Studies
Major Competitive Exams
Major Competitive Exams
Mathematics (School)
Mathematics (School)
Mechanical Engineering
Mechanical Engineering
Medical Science
Medical Science
Physics (School & Undergraduate)
Physics (School & Undergraduate)
Quantitative Aptitude & Reasoning
Quantitative Aptitude & Reasoning
Social Science (School)
Social Science (School)
Technical
Technical
Verbal and Reasoning
Verbal and Reasoning
Vocational & Skill Development
Vocational & Skill Development
Soulshift Feedback ×

On a scale of 0–10, how likely are you to recommend The Soulshift Academy?

Not likely Very likely