Write a program for calculating the income tax to be paid by an individual earning less than 1 crore. Use conditional statements only.
Use the following rules:
There are 3 types of rules are following while paying tax. The types are mentioned based on Age.
1.For General(non-Seniors): •If income is up to 2,50,000/- then tax NIL (0). •If income Rs. 2,50,001/- to Rs. 3,00,000/- - then tax 10%. •If income Rs. 3,00,001/- to Rs. 5,00,000/- - then tax 10%. •If income Rs. 5,00,001/- to Rs. 10,00,000/- - then tax 20%. •If income Above Rs. 10,00,000/- - then tax 30%. 2.For Senior citizens (>= 60 & < 80): •If income is up to 2,50,000/- then tax NIL (0). •If income Rs. 2,50,001/- to Rs. 3,00,000/- - then tax NIL (0). •If income Rs. 3,00,001/- to Rs. 5,00,000/- - then tax 10%. •If income Rs. 5,00,001/- to Rs. 10,00,000/- - then tax 20%. •If income Above Rs. 10,00,000/- - then tax 30%. 3.For Very senior citizens (>= 80): •If income is up to 2,50,000/- then tax NIL (0). •If income Rs. 2,50,001/- to Rs. 3,00,000/- - then tax NIL (0). •If income Rs. 3,00,001/- to Rs. 5,00,000/- - then tax NIL (0). •If income Rs. 5,00,001/- to Rs. 10,00,000/- - then tax 20%. •If income Above Rs. 10,00,000/- - then tax 30%.
Additional information:
• The basic exemption limit for individuals (i.e. below 60 years of age) is Rs. 2.50 lakhs. •The basic exemption limit for senior citizens (60 years to 80 years) is Rs. 3.00 lakhs. •The basic exemption limit for very senior citizens (80 years and above) is Rs. 5.00 lakhs. •No extracess is to be levied.
Take the income and age as inputs and return the income tax.
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