Tax calculating program in Python

This program is used to calculate tax in the Python programming language.

This Tax calculating algorithm is very in this program we can improve this algorithm a lot.

Note: this is a very basic implementation of tax calculation. One should not use this to calculate the real tax to submit in real life, this is just a simulator for practice purposes.

Algorithm

First, we are asking for user input to get the total income and total saving, then we are checking for total taxable income by reducing savings from total_income. Then we are checking for various checks for tax bands.

Implementation: 

 #code  
#Tax calculating program in python   
#By Rahul Rajput  
  
total\_income=int(input("Please enter you total income: "))  
print("700000")  
total\_saving=int(input("Please enter you total saving: "))  
print("50000")  
tax\_exemption\_limit=500000  
tax\_10\_percent=750000  
tax\_20\_percent=1000000  
tax\_30\_percent=1250000  
total\_taxable\_income=total\_income - total\_saving  
tax=0.0  
if total\_taxable\_income <= tax\_exemption\_limit :  
    print("You are not earning enough please work hard!!!  (<!>)")  
elif total\_taxable\_income <= tax\_10\_percent:  
    tax = (total\_taxable\_income - tax\_exemption\_limit) / 10.0  
elif total\_taxable\_income <= tax\_20\_percent:  
    tax = (total\_taxable\_income - tax\_exemption\_limit) / 5.0  
elif total\_taxable\_income <= tax\_30\_percent:  
    tax = ((total\_taxable\_income - tax\_exemption\_limit) \* 3 )/ 10.0  
else:  
    tax = ((total\_taxable\_income - tax\_exemption\_limit) \* 3 )/ 10.0  
  
print("Total calculated tax is " + str(tax))

Output

Sample output of this program

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