Programs to calculate the income tax on given income are shown here. The income tax is calculated according to the income obtained by an employee. The following table depicts the tax rate and the ranges of income.
| Income | Tax Rate |
|---|---|
| Upto 250000 | Nil. |
| 250001 to 500000 | 5% of income exceeding 250000 |
| 500001 to 1000000 | 12500 + 20% of income exceeding 500000 |
| Above 1000000 | 112500 + 30% of income exceeding 1000000 |
For example, if the income is 750000, then according to the table, the income tax would be calculated as:
12500 + 20 % of (750000 - 500000)
=> 12500 + 20 % of 250000
=> 12500 + 50000
=> 62500
Page content(s):
1. Algorithm to calculate income tax
1. Take the income x as input.
2. If x <= 250000, tax would be 0.
3. If 250001 <= x <= 500000, tax would be 5% of (x - 250000).
4. If 500001 <= x <= 1000000, tax would be 12500 + 20% of (x - 500000).
5. If x > 1000000, tax would be 112500 + 30% of (x - 1000000).
2. Pseudocode to calculate income tax
Input : Income $i$
Output : Income tax on $i$
1. Procedure incomeTax($i$):
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10. End Procedure
3. Time complexity to calculate income tax
Time Complexity: O(1)
4. Program to calculate income tax
In this section, the C, C++, Java, Python and C# programs to calculate income tax w.r.t the given income are given.
4.1. C Program to calculate income tax
/********************************* alphabetacoder.com C program to calculate income tax **********************************/ #include <stdio.h> int main() { // declare variables double income, tax = 0; // take input printf("Enter the income: "); scanf("%lf", & income); // find the income tax if (income <= 250000) { tax = 0; } else if (income <= 500000) { tax = (income - 250000) * 0.05; } else if (income <= 1000000) { tax = 12500 + (income - 500000) * 0.2; } else { tax = 112500 + (income - 1000000) * 0.3; } // display income tax // upto 2 decimal places printf("Income tax: %0.2lf", tax); return 0; }
Output
Case 1:
Enter the income: 377000
Income tax: 6350.00
Case 2:
Enter the income: 232770
Income tax: 0.00
Case 3:
Enter the income: 1120000
Income tax: 148500.00
4.2. C++ Program to calculate income tax
/*********************************** alphabetacoder.com C++ program to calculate income tax ************************************/ #include <iostream> using namespace std; int main() { // declare variables double income, tax = 0; // take input cout << "Enter the income: "; cin >> income; // find the income tax if (income <= 250000) { tax = 0; } else if (income <= 500000) { tax = (income - 250000) * 0.05; } else if (income <= 1000000) { tax = 12500 + (income - 500000) * 0.2; } else { tax = 112500 + (income - 1000000) * 0.3; } // display income tax // upto 2 decimal places cout.precision(2); cout << "Income tax: " << fixed << tax; return 0; }
Output
Case 1:
Enter the income: 1247567
Income tax: 186770.10
Case 2:
Enter the income: 766550
Income tax: 65810.00
Case 3:
Enter the income: 400000
Income tax: 7500.00
4.3. Java Program to calculate income tax
/************************************ alphabetacoder.com Java program to calculate income tax *************************************/ import java.util.Scanner; public class Main { public static void main(String args[]) { // declare variables double income, tax = 0; // declare an instance of scanner class Scanner sc = new Scanner(System.in); // take input System.out.print("Enter the income: "); income = sc.nextDouble(); // find the income tax if (income <= 250000) { tax = 0; } else if (income <= 500000) { tax = (income - 250000) * 0.05; } else if (income <= 1000000) { tax = 12500 + (income - 500000) * 0.2; } else { tax = 112500 + (income - 1000000) * 0.3; } // display income tax // upto 2 decimal places System.out.print("Income tax: " + ((int)(tax * 100)) / 100.0); } }
Output
Case 1:
Enter the income: 1233333
Income tax: 182499.9
Case 2:
Enter the income: 894500
Income tax: 91400.00
Case 3:
Enter the income: 150000
Income tax: 0.0
4.4. Python Program to calculate income tax
# *************************************** # alphabetacoder.com # Python program to calculate income tax # *************************************** # take input income = float(input("Enter the income: ")) # find the income tax if income <= 250000: tax = 0 elif income <= 500000: tax = (income - 250000) * 0.05 elif income <= 1000000: tax = 12500(income - 500000) * 0.2 else: tax = 112500(income - 1000000) * 0.3 # display income tax # upto 2 decimal places print("Income tax: ", round(tax, 2))
Output
Case 1:
Enter the income: 654000
Income tax: 43300.0
Case 2:
Enter the income: 1100000
Income tax: 142500.0
Case 3:
Enter the income: 999999
Income tax: 112499.8
4.5. C# Program to calculate income tax
/********************************** alphabetacoder.com C# program to calculate income tax ***********************************/ using System; namespace IncomeTax { class Program { static void Main(string[] args) { // declare variables double income, tax = 0; // take input Console.Write("Enter the income: "); income = Convert.ToDouble(Console.ReadLine()); // find the income tax if (income <= 250000) { tax = 0; } else if (income <= 500000) { tax = (income - 250000) * 0.05; } else if (income <= 1000000) { tax = 12500 + (income - 500000) * 0.2; } else { tax = 112500 + (income - 1000000) * 0.3; } // display income tax // upto 2 decimal places Console.WriteLine("Income tax: " + Math.Round(tax, 2)); // wait for user to press any key Console.ReadKey(); } } }
Output
Case 1:
Enter the income: 2000000
Income tax: 412500
Case 2:
Enter the income: 190000
Income tax: 0
Case 3:
Enter the income: 797450
Income tax: 71990