Multiple choice

Calculate total TDS payable on job contract charges of Rs. 50,000 when Income Tax - 1%, Surcharge - 10%, Additional Surcharge Cess - 2%.

  1. Rs. 551

  2. Rs. 561

  3. Rs. 550

  4. Rs. 500

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 It is Rs 561 -Tax is 1% of Rs 50,000  =  1 / 100 X 50,000 =   Rs 500 Surcharge is 10 % of Rs 500  = 10/ 100 X 50,000  =  Rs 50 Additional  Surcharge Cess is 2% of Rs 550 = 2/ 100 X 550 = Rs11 Total TDS Payable  - Rs 500 + Rs 50 + Rs 11 = Rs 561 

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