AAFM CWM_LEVEL_2 Exam - Topic 2 Question 26 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 26
Topic #: 2

Section C (4 Mark)

Read the senario and answer to the question.

Saxena wants to know his income tax liability for FY 2007--08 without taking into consideration any interest income from NSC. Calculate the same including surcharge and Educational Cess.

ARs. 1,76,130

BRs. 1,23,700

CRs. 1,77,344

DRs. 2,32,680

Show Suggested Answer

Suggested Answer: A

by Whitley at May 06, 2022, 06:20 PM

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Yvonne

4 months ago

Rs. 2,32,680? No way, that sounds off!

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Vonda

5 months ago

Wait, how can it be that high?

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Gary

5 months ago

I agree with Effie, that seems right.

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Leonida

5 months ago

Definitely not, it's Rs. 1,77,344!

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Effie

5 months ago

I think it's Rs. 1,76,130.

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Maurine

5 months ago

Okay, let me think this through. If the tail is to the left, that means the distribution is skewed to the left, which is the same as being negatively skewed. I'll go with option C.

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Matilda

5 months ago

I'm pretty sure the calculation should include the income tax slabs for that year, but I can't remember the exact rates right now.

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