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Question
Anu has 750 shares of Rs 60 each of 'Tata Infotech' paying 15% dividend. Find her net income after paying 6% income tax.
Solution
No. of shares = 750
Nominal value of each share =Rs 60
Face value of 750 shares= Rs (60 x 750) =Rs 45,000
Rate of dividend = 15 %
Total dividend =`(45000 xx 15)/100` = Rs 6750
Rate of income tax = 6 %
Total tax = `(6 xx 6750)/100` = Rs 405
Net income= Rs (6,750 - 405) =Rs 6,345
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