B9-057 - VanshPatel - Assignment 3
B9-057 - VanshPatel - Assignment 3
B9-057 - VanshPatel - Assignment 3
Nidhi, a 24-year-old is working with a startup company earning Rs.7.5 lakh per annum. If she makes
investments under Section 80C of Rs.1.5 lakh and assuming pays health insurance premium of
Rs.10,000 which he can avail under Section 80D of Income Tax Act, 1961. payable tax amount for FY
2020-21 (AY 202-22) under the old tax regime?
Ans :
Up to Rs.2.5 lakh 0
Total 20,500
Riddhi, a 22-year-old individual is working with a MNC and earning Rs.35 lakh per annum. He is
planning to make certain investments in this financial year to save tax. He is planning to make Rs.1.5
lakh investment under Section 80C and investments in NPS under Section 80CCD of Rs. 50,000. He is
also paying health insurance premium of Rs. 25,000 which he can avail as a deduction under Section
80D. He has an ongoing home loan as well. He will avail a deduction of Rs.2 lakh on home loan
interest amount as well under Section 24. Caculation the income tax payable for FY 2020-21 (AY
2021-22) under the old tax regime ?
Ans :
Up to Rs.2.5 lakh 0
Total 7,20,000
Aksh Rana, a 26-year-old individual is working with a company. He earns a total income of
Rs.11,50,000. He is planning to make investments under Section 80C of Rs.1.5 lakh and investments
in National Pension Scheme under Section 80CCD of Rs.50,000. He also has a medical insurance for
which he is supposed to pay Rs. 20,000 as his premium which he can avail as a deduction under
Section 80D of Income Tax Act, 1961. Caculation the income tax payable for FY 2020-21 (AY 2021-22)
under the old tax regime ?
Total 88,500