Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning
Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning

Class 9: Maths Chapter 6.2 solutions. Complete Class 9 Maths Chapter 6.2 Notes.

Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning

Maharashtra Board 9th Maths Chapter 6.2, Class 9 Maths Chapter 6.2 solutions

Question 1.
Observe the table given below. Check and decide, whether the individuals have to pay income tax.
Maharashtra Board Class 9 Maths Solutions Chapter 6 Financial Planning Practice Set 6.2 1
Solution:
i. Miss Nikita’s age = 27 years < 60 years
Miss Nikita’s income = ₹ 2,34,000
Miss Nikita’s income is below the basic
exemption limit of ₹ 2,50,000.
∴ Miss Nikita will not have to pay income tax.

ii. Mr. Kulkarni’s age 36 years < 60 years
Mr. Kulkarni’s income = ₹3,27,000
Mr. Kulkarni’s income is above the basic exemption Limit of ₹2,50,000.
∴ Mr. Kulkarni will have to pay income tax.

iii. Miss Mehta’s age = 44 years < 60 years Miss Mehta’s income = ₹5.82,000
Miss Mehta’s income is above the basic exemption limit of ₹2,50,000.
∴ Miss Mehta will have to pay income tax.

iv. Mr. Bajaj’s age = 64 years (Age 60 to 80 years)
Mr. Bajaj’s income = ₹8,40,000
Mr. Bajaj’s income is above the basic exemption Limit of ₹3,00,000.
∴ Mr. Bajaj will have to pay income tax.

v. Mr. Desilva’s age = 81 years > 80 years
Mr. Desilva’s income = ₹4,50,000
Mr. Desilva’s income is below the basic exemption limit of ₹ 5,00.000.
∴ Mr. Desilva will not have to pay income tax.
Maharashtra Board Class 9 Maths Solutions Chapter 6 Financial Planning Practice Set 6.2 2

Question 2.
Mr. Kartarsingh (age 48 years) works in a private company. His monthly income after deduction of allowances is ₹ 42,000 and every month he contributes ₹ 3000 to GPF. He has also bought ₹ 15,000 worth of NSC (National Savings Certificate) and donated ₹ 12,000 to the PM’s Relief Fund. Compute his income tax.
Solution:
Mr. Kartarsingh’s monthly income = ₹ 42,000
Mr. Kartarsingh’s yearly income = 42,000 x 12 = ₹ 5,04,000

Mr. Kartarsingh’s investment
= GPF + NSC
= (3000 x 12)+ 15,000
= 36,000 + 15,000
= ₹ 51,000

Donation to PM’s relief fund = ₹ 12, 000
∴ Taxable income
= yearly income – (investment + donation)
= 5,04,000 – (51,000 + 12,000)
= 5,04,000 – 63,000 = ₹ 4,41,000
Mr. Kartarsingh income falls in the slab 2,50,001 to 5,00,000.
∴ Income tax = 5% of (Taxable income – 250000) = 5% of (4,41,000 – 2,50,000)
= 5100 x 1,91,000 100
= ₹ 9550
Education cess = 2% of income tax
= 2100 x 9550
= 191
Secondary and Higher Education cess = 1% of income tax
= 1100 x 9550 100
= 95.50
Total income tax = Income tax + Education cess + Secondary and higher education cess
= 9550 + 191 + 95.50
= ₹ 9836.50
∴ Mr. Kartarsingh’s income tax is ₹ 9836.50

Question 1.
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? _______
Answer:
1. ₹2,50,001 to ₹5,00,000
ii. 5% of (4,50,000 – 2,50,000)
i.e. 5% of ₹2,00,000
iii. income tax = 5% of 2,00,000
= 5100 x 2,00,000
= ₹10,000
∴ Education cess and Secondary and higher education cess will be levied on the income tax i.e., on ₹10,000.

Question 2.
Use table lito carry out the following activity.
Mr. Pandit is 75 years old. Last year his annual income was ₹ 13,25,000. How much is his taxable income? How much tax does he have to pay? (Textbook pg. no. 103)
Solution:
Mr. Pandit’s age = 75 years (Age 60 to 80 years)
Mr. Pandit’s income is more than 10,00,000.
According to the table,
Income tax = ₹ 1,10,000 + 30 % of (taxable income – 10,00,000)
Taxable income – 10,00,000 = 13,25,000 – 10,00,000 = 3,25,000
In addition, on ₹ 3,25,000 rupees he has to pay 30% income tax.
3,25,000 x 30100 = ₹ 97500
Therefore, his total income tax amounts to 1,10,000 + 97,500 ₹ 207500
Besides this, education cess willi be 2% of income tax 207500 x 2100 = ₹ 4150.
A secondary and higher education cess at 1% of income tax = 207500 x 1100 = ₹ 2075.
∴ Total income tax = Income tax + education cess + secondary and higher education cess
= 207500 + 4150 + 2075
= ₹2,13,725

Download PDF

Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning

Download PDF: Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning PDF

Chapterwise Maharashtra Board Solutions Class 9 Maths :

Part 1

FAQs

Where do I get the Maharashtra State Board Books PDF For free download?

You can download the Maharashtra State Board Books from the eBalbharti official website, i.e. cart.ebalbharati.in or from this article.

How to Download Maharashtra State Board Books?

Students can get the Maharashtra Books for primary, secondary, and senior secondary classes from here.  You can view or download the Maharashtra State Board Books from this page or from the official website for free of cost. Students can follow the detailed steps below to visit the official website and download the e-books for all subjects or a specific subject in different mediums.
Step 1: Visit the official website ebalbharati.in
Step 2: On the top of the screen, select “Download PDF textbooks” 
Step 3: From the “Classes” section, select your class.
Step 4: From “Medium”, select the medium suitable to you.
Step 5: All Maharashtra board books for your class will now be displayed on the right side. 
Step 6: Click on the “Download” option to download the PDF book.

Who developed the Maharashtra State board books?

As of now, the MSCERT and Balbharti are responsible for the syllabus and textbooks of Classes 1 to 8, while Classes 9 and 10 are under the Maharashtra State Board of Secondary and Higher Secondary Education (MSBSHSE).

How many state boards are there in Maharashtra?

The Maharashtra State Board of Secondary & Higher Secondary Education, conducts the HSC and SSC Examinations in the state of Maharashtra through its nine Divisional Boards located at Pune, Mumbai, Aurangabad, Nasik, Kolhapur, Amravati, Latur, Nagpur and Ratnagiri.

About Maharashtra State Board (MSBSHSE)

The Maharashtra State Board of Secondary and Higher Secondary Education or MSBSHSE (Marathi: महाराष्ट्र राज्य माध्यमिक आणि उच्च माध्यमिक शिक्षण मंडळ), is an autonomous and statutory body established in 1965. The board was amended in the year 1977 under the provisions of the Maharashtra Act No. 41 of 1965.

The Maharashtra State Board of Secondary & Higher Secondary Education (MSBSHSE), Pune is an independent body of the Maharashtra Government. There are more than 1.4 million students that appear in the examination every year. The Maha State Board conducts the board examination twice a year. This board conducts the examination for SSC and HSC. 

The Maharashtra government established the Maharashtra State Bureau of Textbook Production and Curriculum Research, also commonly referred to as Ebalbharati, in 1967 to take up the responsibility of providing quality textbooks to students from all classes studying under the Maharashtra State Board. MSBHSE prepares and updates the curriculum to provide holistic development for students. It is designed to tackle the difficulty in understanding the concepts with simple language with simple illustrations. Every year around 10 lakh students are enrolled in schools that are affiliated with the Maharashtra State Board.