High School

Ramila is working in an office. Her monthly salary is rs 60000 10% of her salary goes to employee fund and the employer deposists the same amount to the fund.if she gets additional one month salary as dashain allowance and dearness allowance rs 40000

Find the total income ans taxable income of ramila

If ramila is unmarried then find her annual tax to be paid

Ramila is working in an office Her monthly salary is rs 60000 10 of her salary goes to employee fund and the employer deposists the

Answer :

Therefore, Ramila's total income is Rs. 1,00,000 and her taxable income is Rs. 88,000. If she is unmarried, she needs to pay an annual tax of Rs. 10,560.

What is percent?

Percent is a way of expressing a number as a fraction of 100. It is denoted by the symbol "%". For example, 25% means 25 out of 100 or 0.25 as a decimal. Percentages are often used to express proportions, rates, and changes in values. They are commonly used in finance, economics, statistics, and many other fields.

Here,

Total Monthly Salary of Ramila = Rs. 60,000

Employee Contribution to Fund = 10% of Rs. 60,000 = Rs. 6,000

Employer Contribution to Fund = Rs. 6,000

Total Contribution to Fund = Rs. 6,000 + Rs. 6,000 = Rs. 12,000

Additional Allowances = Rs. 40,000

Gross Monthly Income = Total Monthly Salary + Additional Allowances

= Rs. 60,000 + Rs. 40,000

= Rs. 1,00,000

Taxable Income = Gross Monthly Income - Contribution to Fund

= Rs. 1,00,000 - Rs. 12,000

= Rs. 88,000

Annual Tax = Taxable Income * 12% (Assuming tax rate of 12%)

Annual Tax = Rs. 88,000 * 12/100

= Rs. 10,560

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