A country follows a progressive taxation system under which the income tax rate applicable varies for different slabs of income. total tax is computed by calculating the tax for each slab and adding them up. The rates applicable are as follows:  Annual income slab (in Rs.) Tax rate applicable     0-50,000       0%     50,001-60,000      10%     60,001-1,50,000      20%     >1,50,000      30%  If my annual income is Rs. 1,70,000, then what is the tax payable by me?
(a)	Rs. 17000	(b)	Rs. 25000	(c)	Rs.34000	(d)	Rs. 51000

Question ID - 56621 | SaraNextGen Top Answer

A country follows a progressive taxation system under which the income tax rate applicable varies for different slabs of income. total tax is computed by calculating the tax for each slab and adding them up. The rates applicable are as follows:  Annual income slab (in Rs.) Tax rate applicable     0-50,000       0%     50,001-60,000      10%     60,001-1,50,000      20%     >1,50,000      30%  If my annual income is Rs. 1,70,000, then what is the tax payable by me?
(a)	Rs. 17000	(b)	Rs. 25000	(c)	Rs.34000	(d)	Rs. 51000