Dhwani Rural Information Systems Senior Accountant Interview Questions and Answers

The current income tax slab in India varies based on the income level of the individual.

• The income tax slab for individuals below 60 years of age is as follows: up to Rs. 2.5 lakhs - no tax, Rs. 2.5 lakhs to Rs. 5 lakhs - 5%, Rs. 5 lakhs to Rs. 10 lakhs - 20%, above Rs. 10 lakhs - 30%

• For individuals between 60 and 80 years of age, the tax exemption limit is Rs. 3 lakhs, and for those above 80 years of age, it is Rs. 5 ...read more

Stock up by 10000 will increase the income statement.

• Increase in revenue by 10000

• Increase in cost of goods sold by 10000 if the stock was purchased

• Increase in net income by 10000