Muthukrishnan V
Active Member
- Joined
- May 29, 2008
- Messages
- 294
- Office Version
- 365
- Platform
- Windows
Excel 2007. Cell A1 contains amount in numerical. Tax to be calculated on this amount. If A1<=250000 then
no tax. If >250000 and <= 500000, then (A1-250000)*10%. Upto this I am comfortable with the formula,
=IF(A1<=250000,0,IF(A1<=500000,(A1-250000)*10%)).
There is a concession available for amount in A1 upto 350000. The concession is A1-350000*10% or 2500 whichever is less. For example, assuming if A1 is 330000, then the tax concession is: 330000 - 250000= 80000*10% = 8000. Then 8000 or 2500 whichever is less and in this case 2500.
My requirement is E1 should display the result for the above tax calculation minus tax concession. If A1 is 330000:
E1 will display 5500 (i.e. 330000-250000=80000*10%=8000 minus concession 2500).
If A1 is 400000, E1 will display 15000. (10% tax on 400000-250000=150000*10%=15000. No tax concession as amount exceeds 350000).
Kindly provide me a formula in E1.
no tax. If >250000 and <= 500000, then (A1-250000)*10%. Upto this I am comfortable with the formula,
=IF(A1<=250000,0,IF(A1<=500000,(A1-250000)*10%)).
There is a concession available for amount in A1 upto 350000. The concession is A1-350000*10% or 2500 whichever is less. For example, assuming if A1 is 330000, then the tax concession is: 330000 - 250000= 80000*10% = 8000. Then 8000 or 2500 whichever is less and in this case 2500.
My requirement is E1 should display the result for the above tax calculation minus tax concession. If A1 is 330000:
E1 will display 5500 (i.e. 330000-250000=80000*10%=8000 minus concession 2500).
If A1 is 400000, E1 will display 15000. (10% tax on 400000-250000=150000*10%=15000. No tax concession as amount exceeds 350000).
Kindly provide me a formula in E1.
