Financial Planning Maths - Financial Planning

A person has earned his income during the financial year 2017-18. Then his assessment year is….

For different types of investments what is the maximum permissible amount under section 80C of income tax ?

Mr. Shaikh invested Rs. 4,00,000 in a glass industry. After 2 years he received Rs. 5,20,000 from the industry. Putting aside the original investment, he invested his gains in a fixed deposit and in shares in the ratio 3 : 2. How much amount did he invested originally in each of the schemes ?

Shamrao's income in 2015-16 after paying all taxes is Rs. 6,40,000 . He pays Rs. 2000 per month for insurance and 20% of his annual income into his provident fund. He puts aside Rs. 500 per month for emergencies. How much money does he have for yearly spending ?

Mr. Shah invested Rs. 3,20,000 in a bank at 10% compound interest . He also invested Rs. 2,40,000 in mutual funds. At market rates he got Rs. 3,05,000 after 2 years. How much did he gain ? Which of his investments was more profitable ?

Use Table I given above and write the appropriate amount/figure in the boxes for the example given below. (Textbook pg. no. 102)
Mr. Mehta’s annual income is ₹4,50,000
i. If he does not have any savings by which he can claim deductions from his income, to which slab does his taxable income belong ? ______
ii, What is the amount on which he will have to pay income tax and at what percent rate? on ₹ _______
percentage _______
iii. On what amount will the cess be levied? _______

Sameera spent 90% of her income and donated 3% for socially useful causes. If she was left with ₹ 1750 at the end of the month, what was her actual income ?

The ratio of Mr. Anil's monthly income to expenditure is 5 : 4,. For Mr. Aman the same
figure is 3 : 2. Also, 4% of Aman's monthly income is equal to 7% of Anil's monthly
income. If Anil's monthly expenditure is 96,000 rupees
(i) Find Aman's annual income. (ii) Savings made by Mr. Anil and Mr. Aman.

Compute the income tax payable by following individuals.
i. Mr. Kadam who is 35 years old and has a taxable income of ₹13,35,000.
ii. Mr. Khan is 65 years of age and his taxable income is ₹4,50,000.
iii. Miss Varsha (Age 26 years) has a taxable income of ₹2,30,000.

Total income of Ramesh, Suresh and Preeti is ₹ 8,07,000. The percentages of their expenses are 75%, 80% and 90% respectively. If the ratio of their savings is 16 : 17 : 12, then find the annual saving of each of them.

Kailash used to spend 85% of his income. When his income increased by 36% his expenses also increased by 40% of his earlier expenses. How much percentage of his earning he saves now ?

Mr. Manohar gave 20% of his income to his elder son and 30% to his younger son. He gave 10% of the balance income as donation to a school. He still had ₹ 1,80,000 for himself. What was Mr. Manohar’s income ?

At the start of a year there were ₹ 24,000 in a savings account. After adding ₹ 56,000 to this the entire amount was invested in the bank at 7.5% compound interest. What will be the total amount after 3 years ?

Mrs. Hinduja's age is 50 years. Last year her taxable income was Rs. 16,30,000. How much income tax has she to pay ?

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.

Mr. Pandit is 75 years of age. Last year his annual income was 13,25,000 rupees. How much is his taxable income ? How much tax does he have to pay ?