An individual pays 30% income tax. On this tax he has pay a surcharge of 10%. Thus the net tax rate, he has to pay is
(a)
27%
(b)
33%
(c)
40%
(d)
45%
An individual pays 30% income tax. On this tax he has pay a surcharge of 10%. Thus the net tax rate, he has to pay is
(a)
27%
(b)
33%
(c)
40%
(d)
45%
Question ID - 56662 | SaraNextGen Top Answer
An individual pays 30% income tax. On this tax he has pay a surcharge of 10%. Thus the net tax rate, he has to pay is
(a)
27%
(b)
33%
(c)
40%
(d)
45%
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An individual pays 30% income tax. On this tax he has pay a surcharge of 10%. Thus the net tax rate, he has to pay is |
|
|||||||
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(a) |
27% |
(b) |
33% |
(c) |
40% |
(d) |
45% |
|
1 Answer
127 votes
Answer Key / Explanation : (b) -
Let his taxable be Rs. 100.
Then, income tax =30% of Rs. 100= Rs.30.
Surcharge = 10% of Rs. 30 = Rs. 3.
Total tax paid = Rs. (30 + 3) = Rs. 33.
Net tax rate = 
127 votes
Answer Link
127