0

# Total tax given Net income

You may know that income tax calculations in most parts of the world is based on slab model. Let's take a simple case of a two slab model with transition from base slab to top slab defined by slab amount (S). Let the base tax for gross income amount (G) equal to (S), be defined as (BT). If income exceed S, then the total tax would be T = (G - S)*r/100 + BT where r = income tax percentage rate (0 < r < 100) for income amount exceeding slab amount (S) Let us say hypothetically, a new scheme has been introduced to give a tax rebate as follows: B = (T*T)/G. Then, the final tax, F = T - B. The net income (N) would be N = G - F Given net income (N), tax rate (r), slab amount (S) and the base tax (BT) respectively, can you compute the total tax (T)? Your program needs to read from standard input the requirement parameters and emit only the total tax in its standard output as given in example below. Please note, the output has been rounded-off to two decimal places.

9th Dec 2022, 6:44 AM
Manikanta raju