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(b) Lal Ltd. provides you the following information for financial year 2019-2020: Estimated Income for the year ended 31 March 2020: Gross Annual Income (inclusive

(b) Lal Ltd. provides you the following information for financial year 2019-2020: Estimated Income for the year ended 31 March 2020: Gross Annual Income (inclusive of Estimated Capital Gains of 24,00,000) Quarter Quarter // Quarter III (including Estimated Capital Gains of 4,00,000) Quarter IV 16,50,000 73,50,000 74,00,000 76,00,000 73,00,000 Tax Rates On Other Income First 2,50,000 20% Balance Income 30% On Capital Gains 12% Calculate the tax expense for each quarter, assuming that there is no difference between the estimated taxable income and the estimated accounting income. (6 Marks)

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