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Question
Yash has 1200 shares of Rs 150 each of 'Honeywell Corporation' paying 18% dividend. Find his net income after paying.
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Solution
No. of shares = 1200
Nominal value of each share =Rs 150
Face value of 1200 shares= Rs (150 x 1200) =Rs 1,80,000
Rate of dividend = 18 %
Total dividend = `(180000 xx 18)/100` = Rs 32400
Rate of income tax = 8 %
Total tax = `(8 xx 32400)/100` = Rs 2592
Net income = Rs (32,400 - 2,592) = Rs 29,808
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