Question

How much tax is paid on an annual salary of Rs 2,000,000 if the income tax rate is 5%? * Rs 100,000 Rs 150,000 Rs 175,000 Rs 200,000

Answer 1

Tax paid on an annual salary of Rs 2,000,000 at a 5% tax rate is Rs 100,000.

Step-by-step explanation:

The question asks how much tax is paid on an annual salary of Rs 2,000,000 with a tax rate of 5%. To calculate the tax paid, we use the following formula: tax paid = annual salary × tax rate. In this case, it is Rs 2,000,000 × 0.05 = Rs 100,000. Therefore, the tax paid on an annual salary of Rs 2,000,000 at a 5% tax rate is Rs 100,000.