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Asked: 2022-03-17T14:44:08+05:30 In:

Design a program in Python Using Parameterized Function to calculate the tax for the people living in Mango city. Specify …

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Design a program in Python Using Parameterized Function to calculate the tax for the people living in Mango city. Specify …

Design a program in Python Using Parameterized Function to calculate the tax for the people living in Mango city. Specify a Function description is given below:                                                                                                                                                                                 

Function name                                   Tax_Calculator

Variable names:                                  int PAN

                                                               String name

                                                               float taxable_Income

                                                               float tax

                             

The tax is calculated according to the following rules:

Total Annual Taxable Income

 Rate of Taxation

Up to 60000

 0%

Above 60000 but up to 150000

 5%

Above 150000 but up to 500000

 10%

Above 500000

 15%

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    2. def Tax_Cal(PAN, name, taxable_income, tax):
if taxable_income<=60000:
tax=0
elif taxable_income>60000 and taxable_income<=150000:
tax=5/100*taxable_income
elif taxable_income>150000 and taxable_income<=500000:
tax=10/100*taxable_income 
elif taxable_income>500000:
tax=15/100*taxable_income 
print(tax)

Tax_Cal(8575, "James", 70000, 0)
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