Mathematics
A company pays a dividend of 15% on its ten-rupee shares from which it deducts income tax at the rate of 22%. Find the annual income of a man who owns one thousand shares of this company?
Shares & Dividends
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Answer
Annual income = No. of shares × Rate of div. × N.V. of 1 share
=
= ₹ 1,500.
Income tax = 22% = .
Net income = ₹ 1,500 - ₹ 330 = ₹ 1,170.
Hence, net annual income = ₹ 1,170.
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