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Peter has taxable income as follows:
Non-savings Income 2,000
Savings Income 6,410a.882
b.482
c.1,082
d.1,682In the answer it says, a direct 20% on Non-savings Income, but aren’t we suppose to deduct the PA first applicable to NSI, which would make a nil(0) tax on NSI
BPP says, the answer is 882
where as I only get a mere 82Please help.
I do not have the BPP study material but your problem is that you have not read the question properly – a usual student problem I would add and a major factor in students getting MCQ’s wrong!
Look at the first line in the question – it says TAXABLE income – so the PA has already been deducted!
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