if man has to pay income tax at rate of 20% of the excess annual income over rs60000,syamal babu received rs 132000 as his annual income deducting income tax.His actual income is?

Answer 1

Taxable amt. = 132,000 - 60,000 = $72,000

Tax = 0.2 * 72000 = $14,400.

Actual Income = 132,000 - 14,400 = $117,600.