Finance simplified

Q. If the slabs are taxing income from 3L-6L@ 5%,

Then how ZERO tax on income of 7L?

Ans. If you earn upto 7L, no tax

If you earn ₹7.5L, then tax is:
A. ₹0 on ₹0-3L: 0%
B. ₹15,000 on ₹3-6L: 5%
C. ₹15,000 (₹7.5L-6L) on ₹6-9L: 10%

A+B+C=₹30,000+Sur+Cess

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