taxcal

/* Function to calculate Income tax

input is taxable income.

Function created on 3rd September 2014
Function created by Shubharaj Buwa

*/

function tax(input) {

if (input < 250001) {

return “0”;

}

else if (input > 250000 && input < 500001) {

return ((input – 250000)* 5 /100);

}

else if (input > 500000 && input < 1000001) {

return ((input-500000) * 20/100)+12500 ;

}

else if (input > 1000000) {

return ((input – 1000000) * 30/100) + 112500;

}
}