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Chapter 1- Calculation Of Income Tax Liability – Example 6 Notes

This topic has 2 replies, 2 voices, and was last updated 7 years ago by Tax Tutor.

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November 19, 2017 at 9:06 am #416565
ak113
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Saving Income is $12,000 however only liability for $7,000 is taken. May I know the reason sir?
November 20, 2017 at 8:14 pm #417013
ak113
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I am talking about the Example 6 for the Income Tax Calculation – Can you please answer??
November 22, 2017 at 2:48 pm #417416
Tax Tutor
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I presume you actually mean chapter 2 example 7 as that has 12,000 savings income?
If you look properly at the answer you will see that 12,000 is indeed taxed in 3 parts at 0%, 20% and 40%
If this is not the example you mean then do please correct me
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