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aratrika

A

aratrika

New Member
Hi. I am new new and just registered. it seems that it will be helpful. i have a problem to calculate TDS of the staffs.I use to calculate income tax of the employees in a excel sheet and i want their taxable income to be calculated as prescribed by the authority which is as follows

if taxable income is up to 180000.00 Tax will be = NIL

if taxable income is more than 180000 but less than 500000 = 10% of amount by which

income exceeds Rs. 180000

if taxable income is more than 500000 but less than 800000 = 20% of amount by which

income exceeds Rs. 500000

+Rs.32000.00

if taxable income is more than 500000 but less than 800000 = 30% of amount by which

income exceeds Rs. 800000

+Rs.92000.00

can any body suggest what formula can be used to sort out this problem.It's urgent
 
Aratrika


Firstl, Welcome to the Chandoo.org Forums


Give this a go

Assuminmg your income is in A2

This will return the tax according to your numbers (Which were inconsistant above 500,000)


=IF(A2<=180000,0,IF(A2<500000,A2*10%,IF(A2<800000,32000+A2*20%,92000+A2*30%)))
 
thanks Hui for your valuable input but the equation is by the amount it exceeds 180000 or 500000 and 800000.e.g if the income is 181000 then the tax shall be 10% on the amount by which it exceeds 180000 i.e 1000.look forward to your further input.thanking you in advance.
 
Aratrika,


Assuming Income in Cell A2.


=IF(A2<=180000,0,IF(A2<500000,(A2-180000)*10%,IF(A2<800000,32000+(A2-500000)*20%,92000+(A2-800000)*30%)))


~VijaySharma
 
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