Question

1) WAP to calculate income tax to be paid on annual income as per the following conditions Annual income income tax Up to 50000 no tax 50001 – 70000 10% on the amount exceeding Rs. 50000 70001 – 1,50000 Rs. 10000 +20% on the amount exceeding Rs. 70000 Above 1,50000 Rs. 15000 + 30% on the amount exceeding Rs. 1,50000 Input name and annual income. Print name and income tax.

Answer 1

Answer:

Income tax calculator for FY2021-22

The Union Budget 2021 has not provided any income tax relief to tax payers. The finance minister Nirmala Sitharaman made no changes in income tax slabs or rates have been proposed. Nor did she give any additional tax exemptions or deductions. With no change in the basic exemption limit, income tax slabs and tax rates, an individual tax payer will continue to pay the tax at the same rates applicable in FY 2020-21.