Question

1 Q7. Write a program to read annual income and name of a person and find the tax he would pay as per the given table Annual Income Tax Less than 500000 0 500001 to 800000 79 of Income 800001 to 1000000 10% of income Above 1000000 15% of income Print the name and tax the person will pay .​

Answer 1

Explanation:

Income Tax Rate

New Income Tax Slab for FY 2020-21 & AY 2021-22

Taxable Income Tax Rates

Up to Rs. 2,50,000 NIL

Rs. 2,50,001 –Rs. 5,00,000 5% of income above Rs. 2.5 lakh + 4% cess on income tax

Rs. 5,00,001 – Rs. 7,50,000 Rs. 12,500 + 10% of total income above Rs. 5 lakh + 4% cess