- Income tax is computed based on net taxable income. The income tax table is as follows:
Net Taxable Income (NTI) Tax Due
Below 2,500 P0
At least 2,500 but below 5000 P100 + 3% of NTI
At least 5,000 but below 10,000 P175 + 5% of NTI
At least 10,000 but below 25,000 P425 + 8% of NTI
At least 25,000 but below 50,000 P1625 + 13% of NTI
At least 50,000 P4875 + 25% of NTI
Make a program that would input the gross income and tax exemption and then output the tax due. (Net taxable income equals gross minus tax exemption).