• Hi All

    Please note that at the Chandoo.org Forums there is Zero Tolerance to Spam

    Post Spam and you Will Be Deleted as a User

    Hui...

  • When starting a new post, to receive a quicker and more targeted answer, Please include a sample file in the initial post.

Basic nested IF question

Hi Folks,
I have been away from Excel for a while and have to create a Compound IF formula for the following:
Income is €1234.00
Tax Free Allowance is €700.00
Tax at 20% is payable on the 700 and all income above the €700 is taxed at 40%.
Once this figure is arrived at then we subtract your allowance of €40 from the final figure and hey presto you’ve how much tax you pay.

What I have so far is =IF(B1>700,B1*40%,B1*20%)
B1=1234.00
Any help appreciated
Thanks,
Noel
 
Your requirement is not fully clear to me. You can use something like below.

=IF(B1>700,700*0.2+(B1-700)*0.4,"Formula for values upto 700!")

Add formula in false part...
 
Back
Top