Mr. Ahmed, a 62 year old senior citizen is employed in a private company. His total annual income is Rs.6,20,000. He has contributed Rs. 1,00,000 to the Public Provident Fund and paid a premium of Rs. 80,000 for the year for health insurance and a donation of Rs. 10,000 to CM's Relief Fund. What is tax payable ?
Mr. Mhatre is 50 years old. His gross total income is Rs. 12,00,000. He has invested in the following amounts in different schemes. (i) Insurance premium : ₹ 90,000 (ii) Investment in provident fund : ₹ 25,000 (iii) Investment in PPF : ₹ 15,000 (iv) National Savings Certificate : ₹ 20,000 Find out the permissible deductions, taxable income, and the income tax payable.