AIEEE Questions

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The standard deduction of Rs. 40,000 is seek to provide relief to salaried tax payers in the Budget proposals in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.

Let the total amount he had with = Rs. p

From the given data,

p - 38460 - 24468 = 28p/100

p - 28p/100 = 24468 + 38460

72p/100 = 62928

72p = 62928 x 100

p = 62928 x 100/72

p = 87400

Hence, the total amount he had = p = Rs. 87400.

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