Excel formula for calculating slabs

Originally posted by : CA.Sonia
	Hi ,   Can any body provide the excel sheet of formula to be used for calculating the income tax slabs for different Incomes.   Thanks

Here is it

=IF(D952<200000,0,IF(D952<500000,(D952-200000)*0.1,IF(D952<1000000,(D952-500000)*0.2+30000,IF(D952>1000000,(D952-1000000)*0.3+130000,))))

Replace the extreme left figure in above formula with the exemption limit of other person(s).

The Income Tax Calculator is hereby attached....

In the above attachment there is a minor formula error, Please use the hereby attached file...

income tax calculator if excel formula 

thanks Amit....

Please help me to calculate tax in excel

First 250000 0%
Next 400000 10%
Next 500000 15%
Next 600000 20%
Next 3000000 25%
4750000 30% if total amount is above forty sevel lac fifty thousand then 30% tax on rest of the amount

Regards

Rakib

@ amit kumar  Logical operators "and" and "if"  take comma ","  instead of  semicolon ";"

Thanks.

Goto Developer -Visual basic- tools - references - tick visual basic for apllications [VBA] then

insert module.  

Paste following code in module

Function Tax2015(Inco)
    Select Case Inco
          Case Is < 250000
                Tax2015 = 0
           Case Is <= 500000
                  Tax2015 = (Inco - 250000) * 0.1
           Case Is <= 1000000
                   Tax2015 = 25000 + (Inco - 500000) * 0.2
           Case Is > 1000000
                    Tax2015 = 125000 + (Inco - 1000000) * 0.3
           Case Else
                 
     End Select
       
End Function

any where you can  type  =Tax2015 (A5)  a5 is cel where taxabale income is there

I hope this helpsl

I posted a problem and got a solution through email. But it doesn't work.

Problem was:

Please help me to calculate tax in excel First 250000 0% Next 400000 10% Next 500000 15% Next 600000 20% Next 3000000 25% 4750000 30% if total amount is above forty sevel lac fifty thousand then 30% tax on rest of the amount

and solution was:

Goto Developer -Visual basic- tools - references - tick visual basic for apllications [VBA] then

insert module.  

Paste following code in module

Function Tax2015(Inco)
    Select Case Inco
          Case Is < 250000
                Tax2015 = 0
           Case Is <= 500000
                  Tax2015 = (Inco - 250000) * 0.1
           Case Is <= 1000000
                   Tax2015 = 25000 + (Inco - 500000) * 0.2
           Case Is > 1000000
                    Tax2015 = 125000 + (Inco - 1000000) * 0.3
           Case Else
                 
     End Select
       
End Function

any where you can  type  =Tax2015 (A5)  a5 is cel where taxabale income is there

I hope this helpsl

Please help me get out from this problme. I can't work with it

Regards

Rakib

                Suppose income is                           1,000,000

1st          250,000                0%          -  

Next      400,000                5%          20,000

Next      350,000                10%        35,000

Total      1,000,000            Tax         55,000

Function Taxs(Inco)
    Select Case Inco
          Case Is < 250000
                Taxs = 0
           Case Is <= 650000
                  Taxs = (Inco - 250000) * 0.1
           Case Is <= 1150000
                   Taxs = 40000 + (Inco - 650000) * 0.15
           Case Is <= 1750000
                    Taxs = 115000 + (Inco - 1150000) * 0.2
            Case Is <= 4750000
                    Taxs = 235000 + (Inco - 1750000) * 0.25
            Case Is > 4750000
                    Taxs = 985000 + (Inco - 4750000) * 0.3
           Case Else
                 "Error"
     End Select
       
End Function