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Income Tax Calculation Slab wise?

A

appu_gusai

Member
hello everyone,


i need formula for the current year (2013-2014) income tax slab wise calculation,

Tax Man Women
1 0.00% Upto 2,00,000 Upto 2,00,000
2 10.00% 2,00,001 to 5,00,000 2,00,001 to 5,00,000
3 20.00% 5,00,001 to 10,00,000 5,00,001 to 10,00,000
4 30.00% Above 10,00,000 Above 10,00,000

is this possible?
 

Attachments

Last edited:
Put the Salary in A2. Put this formula in B2

=SUMPRODUCT(--(A2>{200000;500000;1000000}), (A2-{200000;500000;1000000}), {0.1;0.1;0.1})

Should give you the exact tax payable to the dollar. No need for a file when you have given us the tax table. An example salary with the expected result would be helpful though.

Take care

Smallman
 
Smallman said:
Put the Salary in A2. Put this formula in B2

=SUMPRODUCT(--(A2>{200000;500000;1000000}), (A2-{200000;500000;1000000}), {0.1;0.1;0.1})

Should give you the exact tax payable to the dollar. No need for a file when you have given us the tax table. An example salary with the expected result would be helpful though.

Take care

Smallman
Click to expand...


i have this, but i m need slab wise calculation, please check upload file in 1st POST :)

thank's for this :)
 
I did not see the file. I will have a look now. I am sorry but 'slab wise' is not a term I understand and I grew up in an English speaking country.
 
Hi appu_gusai,

Tax calculation is like if you net taxable income is say 500000. Than deduct 200000 and now see it is coming in the slab of 200001 - 500000, so 10%. What you illustrated in your file is wrong.

Regards!
 
Your file suggests you want to break each proportion of the taxation table down. This is long hand and is a more basic way to conduct this type of calculation. This is basic arithmetic, what part of this mathematical problem are you struggling with? Also headers in the 6th column while data is in Columns 1 to 5. This is more difficult to follow. A bit of clarity in your file would help.

Take care

Smallman
 
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