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Taxation Chapter Solutions Class9

The document provides solutions for Class 9 Mathematics on the topic of taxation, including formulas for calculating taxable income and social security tax. It presents various examples with different annual incomes, exemptions, allowances, and deductions to illustrate how to compute taxable income and tax owed. Key calculations include determining taxable income from given annual incomes and applying the social security tax rate.

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3 views2 pages

Taxation Chapter Solutions Class9

The document provides solutions for Class 9 Mathematics on the topic of taxation, including formulas for calculating taxable income and social security tax. It presents various examples with different annual incomes, exemptions, allowances, and deductions to illustrate how to compute taxable income and tax owed. Key calculations include determining taxable income from given annual incomes and applying the social security tax rate.

Uploaded by

unexpectedwillan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Class 9 Mathematics - Taxation Chapter Solutions

Formulas to Remember:

1. Taxable Income = Total Annual Income - Exempted Amount - Allowances/Deductions

2. Social Security Tax = 1% of (Income up to specified limit)

Solutions:

1. a) Annual Income = Rs 10,00,000

Tax Exempted = Rs 4,50,000

Taxable Income = 10,00,000 - 4,50,000 = Rs 5,50,000

2. b) Yearly Income = Rs 4,44,000, Allowance = Rs 24,000

Taxable Income = 4,44,000 - 24,000 = Rs 4,20,000

3. c) Yearly Income = Rs 4,55,880

Provident Fund = Rs 45,588, Life Insurance = Rs 25,000

Total Deductions = 45,588 + 25,000 = Rs 70,588

Taxable Income = 4,55,880 - 70,588 = Rs 3,85,292

4. d) Monthly Income = Rs 77,280, Festival Expense = 77,280

Annual Income = 77,280 * 13 = Rs 10,04,640

Taxable Income = Rs 10,04,640

5. a) Monthly Salary = Rs 25,450

Annual Income = 25,450 * 12 = Rs 3,05,400


Tax = 1% of 3,05,400 = Rs 3,054

6. b) Monthly Income = Rs 33,500

Annual Income = 33,500 * 12 = Rs 4,02,000

Tax = 1% of 4,02,000 = Rs 4,020

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