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AAFM CTEP Exam - Topic 8 Question 69 Discussion

Choose the amount of final tax liability of Mr. Raj for the assessment year 2007-08:Tax slab for male / HUF(for AY 2007-08)Rs. 0 to 100000 --- No Income TaxRs. 1,00,001 to 1,50,000 --- 10%Rs. 150001 to 2,50,000 --- 20%Rs. 2,50,001 and above --- 30%Note: A surcharge of 10% on income tax amount is payable if total income is exceeding Rs. 10,00,000 and a 2% education cess is payable on the income tax amount and surcharge.
B) Rs.17,442
A) Rs.17,100
C) Rs.15,700
D) Rs.16,014

AAFM CTEP Exam - Topic 8 Question 69 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 69
Topic #: 8
[All CTEP Questions]

Choose the amount of final tax liability of Mr. Raj for the assessment year 2007-08:

Tax slab for male / HUF(for AY 2007-08)

Rs. 0 to 100000 --- No Income Tax

Rs. 1,00,001 to 1,50,000 --- 10%

Rs. 150001 to 2,50,000 --- 20%

Rs. 2,50,001 and above --- 30%

Note: A surcharge of 10% on income tax amount is payable if total income is exceeding Rs. 10,00,000 and a 2% education cess is payable on the income tax amount and surcharge.

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Suggested Answer: B

by Rana at Aug 16, 2025, 12:36 PM

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Laurel
6 months ago
Wait, there's a surcharge if income exceeds 10 lakhs? That's surprising!
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Barrie
6 months ago
I think it's definitely option B, seems right to me!
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Annmarie
6 months ago
I'm not so sure about that, could be option D too.
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Edison
6 months ago
The education cess is a must to consider in the final amount.
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Delisa
7 months ago
Looks like the tax slabs are pretty straightforward.
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Bethanie
7 months ago
I’m leaning towards Rs. 16,014, but I’m second-guessing my calculations on the slab rates.
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Walton
7 months ago
I think I got the final tax amount down to Rs. 17,100, but I’m not confident about including the education cess correctly.
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Bettina
7 months ago
This question seems similar to one we did in class, but I can't recall if the surcharge kicks in for incomes over Rs. 10,00,000.
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Susy
7 months ago
I remember we practiced calculating tax liabilities using different slabs, but I’m unsure about how the education cess applies here.
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Evangelina
8 months ago
This seems like a tricky one. I'll need to double-check my work to make sure I haven't missed any important details in the question. Taking it step-by-step is the best approach here.
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Alexia
8 months ago
Okay, I think I've got this. Based on the income range and tax slab information provided, I'll calculate the tax amount, then add the 10% surcharge and 2% education cess to get the final tax liability.
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Malcolm
8 months ago
I'm a bit confused by the different tax slabs and the additional surcharge and cess. I'll need to carefully read through the details to make sure I calculate the final tax liability correctly.
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Novella
8 months ago
This looks like a straightforward income tax calculation problem. I'll need to determine which tax slab Mr. Raj's income falls into and then apply the appropriate tax rate, surcharge, and education cess.
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Larue
9 months ago
I disagree, I calculated it and I believe the answer is C) Rs.15,700.
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Felicitas
9 months ago
I'm going with Option D. The tax calculation looks a bit tricky, but I think the education cess is being applied twice, which is not correct.
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Tamie
9 months ago
I think the answer is B) Rs.17,442.
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Wilford
10 months ago
Option B seems to be the correct answer. The total income of Rs. 2,00,000 falls in the 20% tax slab, so the tax liability would be Rs. 20,000. After adding the 10% surcharge and 2% education cess, the final tax liability comes out to Rs. 17,442.
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