Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000: the tax rate is

A. 10% of the amount exceeding Rs. 600,000

B. 5% of the amount exceeding Rs. 600,000

C. 15% of the amount exceeding Rs. 600,000

D. None  

Answer: B. 5% of the amount exceeding Rs. 600,000

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