Excel formula

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Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2017 I have used below formula for calculating income tax F.Y. 2017-18. But, this formula not work properly any body can help me to modified this formula.

=SUMPRODUCT(--(BN4>{250000;500000;1000000}),(BN4-{250000;500000;1000000}),{0.05;0.1;0.1})

sent me : HRAHEVAR@YAHOO.CO.IN

Tony John

Tony John (Expert)
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11 February 2017 Sir can I suggest you another formula for FY 2016-17 :
[Total Income in Cell D19]
=IF(D19>1000000,(D19-1000000)*0.3+125000,IF(D19>500000,(D19-500000)*0.2+25000,IF(D19>250000,(D19-250000)*0.1,0)))
Reduce rebate u/s 87A from this if eligible.

Tony John

Tony John (Expert)
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11 February 2017 Add applicable surcharge and cess also.