Income Tax Calculation Formula

[GVN KUMAR]

Income Tax Calculation Formula
TAX SLABS Tax Rate
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 to Rs. 5,00,000 5.15%
Rs. 5,00,000 to Rs. 10,00,000 20.60%
Above Rs. 10,00,000 30.90%

my 6 clients different different income is below
3,50,000
4,45,200
5,41,200
6,58,525
10,58,525

write a simple formula for income tax calculations purpose

same is data attached xls file sir

 

[AliGW]

Are you aware of this, which might save you a job?

http://www.ynithya.com/taxcalc/

 

[bosco_yip]

1] I think your cell F9 formula is wrong

=((F7-500000)*B5)+C4+C3 =288,459

It should read as :

=((F7-1000000)*B5)+C4+C3 =133,959

Please reply/confirm

2] My formula : in B10, copied across :

=ROUND(SUMPRODUCT(--(B7>250000*{0;1;2;4}),--(B7-250000*{0;1;2;4}),{0;0.0515;0.1545;0.103}),0)

Regards
Bosco

 

[GVN KUMAR]

thank you medam AliGW for best site suggestion but its ok but our working sheet required formula.

a lot of thank you for write a formula for bosco_yip any place useing purpose.
good sir thank you for your valuable time spend to me

 

[GVN KUMAR]

previous our some one give a if formula its hard so many place change data
but its formula good sir

 

[GVN KUMAR]

i am agree with F9 row formula wrong sir

 

[GVN KUMAR]

after a long time, we are again asking sir

we are not able to your formula editing but using copy and paste formula not additions to your formula sir

so our tax rate changes and insert new regime sir

could you help sir

this slab rate is attached sir


the same way sir additional 3 slabs were inserted this year sir

could you help sir

Your Excel knowledge is beyond our imagination Your formula is too small to be easy but we could not edit it to understand it to change. We changed it a little to fit the lost garment. 3 additional slabs were laid this year.


=ROUND(SUMPRODUCT(--(B7>250000*{0;1;2;4}),--(B7-250000*{0;1;2;4}),{0;0.0515;0.1545;0.103}),0) ← its working and 10000000% correct sir

Thank you for devoting your precious time to us

 

[bosco_yip]

after a long time, we are again asking sir

we are not able to your formula editing but using copy and paste formula not additions to your formula sir

so our tax rate changes and insert new regime sir

could you help sir

this slab rate is attached sir


the same way sir additional 3 slabs were inserted this year sir

could you help sir

Your Excel knowledge is beyond our imagination Your formula is too small to be easy but we could not edit it to understand it to change. We changed it a little to fit the lost garment. 3 additional slabs were laid this year.


=ROUND(SUMPRODUCT(--(B7>250000*{0;1;2;4}),--(B7-250000*{0;1;2;4}),{0;0.0515;0.1545;0.103}),0) ← its working and 10000000% correct sir

Thank you for devoting your precious time to us

Please refer to your reply by yesterday (29/6/2022).

I don't notice that you don't understand my posted formula meaning, so I attached herewith a file with brief explanation for your understanding.

1] The formula is based on a separated Breakdown Table in Range G1:J5

2] Formula based on Breakdown Table range, in B12 copy across :

=ROUND(SUMPRODUCT(--(B7>$G$2:$G$5),--(B7-$G$2:$G$5),$J$2:$J$5),0)

3] Press F9, the above formula become >>

=ROUND(SUMPRODUCT(--(B7>{0;250000;500000;1000000}),--(B7-{0;250000;500000;1000000}),{0;0.0515;0.1545;0.103}),0)

4] Formula after simplification and become >>

=ROUND(SUMPRODUCT(--(B7>250000*{0;1;2;4}),--(B7-250000*{0;1;2;4}),{0;0.0515;0.1545;0.103}),0)

5] Final formula submitted to the forum, as in B10 copy across

 

[GVN KUMAR]

Thanks, sir

The help you did will never be forgotten
In detail, in an understandable way, without asking this issue again Sir so much formula wrote meaningfully for us sir

 

[GVN KUMAR]

sir

The unseen answer to the post is posted as it appears in the image view. It is very easy to understand the answer to the question before opening the xls file and looking at it.

The Himalayan hill problems is solved in a pinch


Greetings

 

[bosco_yip]

Thanks, sir

The help you did will never be forgotten
In detail, in an understandable way, without asking this issue again Sir so much formula wrote meaningfully for us sir

@GVN KUMAR

I got a stroke in 20/5/22 and stayed in hospital for 6 days, and just discharged home.

I feel my health not fully recovery yet.

I hope my above explanation in regarding tax paying formula can help you to solve all your problem

Best regards

bosco_yip

 

[GVN KUMAR]

How can it be good for a good person like you that we are so sad sir

Hope you are happy, with longevity, with eight treasures.

Hope you have that Lord Ice


People like you are very useful to this community

This society desperately needs your intelligence, your experience, your knowledge, and selfless service without expecting any reward, the services you provide.

Hope you are happy for a long time.

The answer you wrote is very useful to you, we have been using this answer for the last 2 years.

We asked them again for a change this year.

Answering us even if you have heart disease What can we give you.

Proof of your service commitment.

 

[GVN KUMAR]

We hope that people like you have a good YouTube channel and tools to tell you how to solve the problem.

Everyone teaches Excel but we have learned from you that even a single formula like this can be written.
Our India is all writing 3 line formula with eF and

You wrote in the Singa line

Our thanks to your sanity

Your intellect is the lifeblood of society

The world needs people like you