{"id":581296,"date":"2022-02-23T08:12:58","date_gmt":"2022-02-23T08:12:58","guid":{"rendered":"https:\/\/www.indcareer.com\/schools\/?p=581296"},"modified":"2022-02-25T07:00:32","modified_gmt":"2022-02-25T07:00:32","slug":"maharashtra-board-solutions-class-9-maths-part-1-chapter-6-2-financial-planning","status":"publish","type":"post","link":"https:\/\/www.indcareer.com\/schools\/maharashtra-board-solutions-class-9-maths-part-1-chapter-6-2-financial-planning\/","title":{"rendered":"Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning"},"content":{"rendered":"\n

Class 9: Maths Chapter 6.2 solutions. Complete Class 9 Maths Chapter 6.2 Notes.<\/p>\n\n\n\n

Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning<\/h2>\n\n\n\n

Maharashtra Board 9th Maths Chapter 6.2, Class 9 Maths Chapter 6.2 solutions<\/p>\n\n\n\n

Question 1.
Observe the table given below. Check and decide, whether the individuals have to pay income tax.
\"Maharashtra
Solution:<\/strong>
i. Miss Nikita\u2019s age = 27 years < 60 years
Miss Nikita\u2019s income = \u20b9 2,34,000
Miss Nikita\u2019s income is below the basic
exemption limit of \u20b9 2,50,000.
\u2234 Miss Nikita will not have to pay income tax.<\/p>\n\n\n\n

ii. Mr. Kulkarni\u2019s age 36 years < 60 years
Mr. Kulkarni\u2019s income = \u20b93,27,000
Mr. Kulkarni\u2019s income is above the basic exemption Limit of \u20b92,50,000.
\u2234 Mr. Kulkarni will have to pay income tax.<\/p>\n\n\n\n

iii. Miss Mehta\u2019s age = 44 years < 60 years Miss Mehta\u2019s income = \u20b95.82,000
Miss Mehta\u2019s income is above the basic exemption limit of \u20b92,50,000.
\u2234 Miss Mehta will have to pay income tax.<\/p>\n\n\n\n

iv. Mr. Bajaj\u2019s age = 64 years (Age 60 to 80 years)
Mr. Bajaj\u2019s income = \u20b98,40,000
Mr. Bajaj\u2019s income is above the basic exemption Limit of \u20b93,00,000.
\u2234 Mr. Bajaj will have to pay income tax.<\/p>\n\n\n\n

v. Mr. Desilva\u2019s age = 81 years > 80 years
Mr. Desilva\u2019s income = \u20b94,50,000
Mr. Desilva\u2019s income is below the basic exemption limit of \u20b9 5,00.000.
\u2234 Mr. Desilva will not have to pay income tax.
\"Maharashtra<\/p>\n\n\n\n

Question 2.
Mr. Kartarsingh (age 48 years) works in a private company. His monthly income after deduction of allowances is \u20b9 42,000 and every month he contributes \u20b9 3000 to GPF. He has also bought \u20b9 15,000 worth of NSC (National Savings Certificate) and donated \u20b9 12,000 to the PM\u2019s Relief Fund. Compute his income tax.
Solution:<\/strong>
Mr. Kartarsingh\u2019s monthly income = \u20b9 42,000
Mr. Kartarsingh\u2019s yearly income = 42,000 x 12 = \u20b9 5,04,000<\/p>\n\n\n\n

Mr. Kartarsingh\u2019s investment
= GPF + NSC
= (3000 x 12)+ 15,000
= 36,000 + 15,000
= \u20b9 51,000<\/p>\n\n\n\n

Donation to PM\u2019s relief fund = \u20b9 12, 000
\u2234 Taxable income
= yearly income \u2013 (investment + donation)
= 5,04,000 \u2013 (51,000 + 12,000)
= 5,04,000 \u2013 63,000 = \u20b9 4,41,000
Mr. Kartarsingh income falls in the slab 2,50,001 to 5,00,000.
\u2234 Income tax = 5% of (Taxable income \u2013 250000) = 5% of (4,41,000 \u2013 2,50,000)
= 5100 x 1,91,000 100
= \u20b9 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
= \u20b9 9836.50
\u2234 Mr. Kartarsingh\u2019s income tax is \u20b9 9836.50<\/p>\n\n\n\n

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)<\/strong>
Mr. Mehta\u2019s annual income is \u20b94,50,000
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 \u20b9 _______
percentage _______
iii. On what amount will the cess be levied? _______
Answer:
<\/strong>1. \u20b92,50,001 to \u20b95,00,000
ii. 5% of (4,50,000 \u2013 2,50,000)
i.e. 5% of \u20b92,00,000
iii. income tax = 5% of 2,00,000
= 5100 x 2,00,000
= \u20b910,000
\u2234 Education cess and Secondary and higher education cess will be levied on the income tax i.e., on \u20b910,000.<\/p>\n\n\n\n

Question 2.
Use table lito carry out the following activity.
Mr. Pandit is 75 years old. Last year his annual income was \u20b9 13,25,000. How much is his taxable income? How much tax does he have to pay? (Textbook pg. no. 103)
Solution:<\/strong>
Mr. Pandit\u2019s age = 75 years (Age 60 to 80 years)
Mr. Pandit\u2019s income is more than 10,00,000.
According to the table,
Income tax = \u20b9 1,10,000 + 30 % of (taxable income \u2013 10,00,000)
Taxable income \u2013 10,00,000 = 13,25,000 \u2013 10,00,000 = 3,25,000
In addition, on \u20b9 3,25,000 rupees he has to pay 30% income tax.
3,25,000 x 30100 = \u20b9 97500
Therefore, his total income tax amounts to 1,10,000 + 97,500 \u20b9 207500
Besides this, education cess willi be 2% of income tax 207500 x 2100 = \u20b9 4150.
A secondary and higher education cess at 1% of income tax = 207500 x 1100 = \u20b9 2075.
\u2234 Total income tax = Income tax + education cess + secondary and higher education cess
= 207500 + 4150 + 2075
= \u20b92,13,725<\/p>\n\n\n\n

Download PDF<\/strong><\/h2>\n\n\n\n

Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning<\/p>\n\n\n\n

Download PDF<\/strong>: Maharashtra Board Solutions Class 9-Maths (Part 1): Chapter 6.2- Financial Planning PDF<\/a><\/p>\n\n\n\n

Chapterwise Maharashtra Board Solutions Class 9 Maths :<\/strong><\/h2>\n\n\n\n

Part 1<\/strong><\/p>\n\n\n\n