In: Accounting
The system will accept the employee ID, the employee
name and his/her gross salary.
Based on the gross salary provided, if it is equal to or greater
than OMR 2500, the system should apply a tax rate of 6% when
calculating the income tax otherwise a tax rate of 4% should be
applied when calculating.
calculate the income tax and the net salary,
If (gross salary > = 2500)
Tax rate =
6%
Else
Tax rate = 4%
Income tax =
Net salary =
Tax rate applicable, Salary >=2500 - 6% Salary < 2500 - 4%, Therefore,if Gross salary is 2500 tax rate applicable is 6% because salary is equal to 2500.
Gross Salary - 2500 Less:Income tax @6% - (150) Net Salary - 2350
Answer : Income Tax is 150 & Net Salary is 2350.