Pushpa saved for one year six months in a fixed deposit account. How much money will she get on maturity if the rate of interest is per annum and interest is compounded after every six months?
Important Questions on Banking and Taxation
The income (excluding house rent allowance) of a government employee in the financial year was . He deposited as premium on life insurance policy and every month in general provident fund. He also purchased a national savings certificate worth . He donates to the Prime Minister's Relief Fund (which is tax free) and to Old Person's Home (which gets him tax rebate). Calculate the payable tax for him at the end of the year. A maximum of of savings (under any scheme) are permitted. The rates of tax are as follows:
| S.No. | Tax Limits | Rate of Tax |
| Up to | NIL | |
Educational cess of payable tax
Secondary and Higher education tax of payable tax
Naveen's income in the financial year was. He deposited as premium on life insurance policy and every month in general provident fund. He also purchased a national savings certificate worth . He donates to an orphanage (which is tax rebate). Calculate the tax payable by him at the end of the year.
The rates of tax are as follows:
| S.No. | Tax Limits | Rate of Tax |
| Up to | NIL | |
| Over |
Educational cess of payable tax
Secondary and Higher education tax of payable tax
A maximum of of savings (under any scheme) are permitted.
Ramesh's total annual income in the financial year was. He deposited every month in general provident fund and paid an annual premium of on life insurance policy. If there is no tax on income up to and tax on income above and maximum saving permissible under all schemes are then calculate the tax payable by him at the end of the year when educational sub-tax is of income tax.
The monthly income (excluding house rent allowance) of a bank employee in the financial year was . He deposited in general provident fund and as semi-annual premium on life insurance policy. If he pays every month for months towards income tax, then what is the amount of payable tax remaining in the last month of the year? of all savings (maximum of ) are tax-exempt.
The rates of tax are as follows:
| S.No. | Tax Limits | Rate of Tax |
| Up to | NIL | |
| More than |
Cess of payable tax if annual taxable income is more than Lakhs
Educational tax of payable tax
Rajesh's total annual income in the financial year was . He deposited every month in general provident fund and paid an annual premium of on life insurance policy. If there is no tax on income up to and tax on income above and maximum saving permissible is under all schemes (up to ) then calculate the tax payable by Rajesh at the end of the year when educational sub-tax is of income tax.
In the financial year the annual income of Mrs. Bhawna (not including house rent allowance) was. She deposits every year in general provident fund and as annual premium on life insurance policy. If she pays every month for first months towards income tax and is allowed as savings schemes then calculate the payable income tax due.
The rates of income-tax are as follows:
| S.No. | Tax Limits | Rate of Tax |
| Up to | NIL | |
In addition, a education sub-tax has to be paid over the income tax.
An officer's annual income (excluding house rent allowance) in the financial year was . She deposits every month towards premium on life insurance policy, every month in general provident fund and also purchased a national savings certificate worth . She donated to an orphanage and of this donation is eligible for tax rebate. If a maximum of can be invested in any type of savings to qualify for tax rebate, then calculate the tax she has to pay at the end of the year.
The rates of tax are as follows:
| S.No. | Tax Limits | Rate of Tax |
| Up to | NIL | |
| More than |
Educational tax of payable tax
