Solved: help me calculate Income tax.

Discussion in 'Business Applications' started by hirendra7158, Oct 7, 2006.

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I wish to formulate stepwise formula for calculating Income tax.

"if taxable income is between 100000 to 150000, then it attracts 10% of the amount excess of 100000." [Other wise NO tax]
"if between 150000 to 250000, then 20% of amount excess of 150000 Plus 5000 of the previous step."
"if above 250000, then 30% of amount excess of 250000 Plus 20000 AND 5000 of previous STEPS."
How can I place maximum figure of slabs in each step, when I have income of ,say, 260000.
I wish to put it step wise, so that 5000 for first slab, then 20000 for next slab and rest in third slab. At the end, The total will be placed.
Please see my attached txt file after " unwrapping" text in Format of Notepad.
thanks.

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2. OBP

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Can you say what program you wish to do this in?
Is it Excel?

3. Rollin_Again

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His attachment states that this will be done in Excel.

Rollin

4. OBP

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Thanks Rollin, I couldn't see the wood for the trees.

5. OBP

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hirendra, do you want to have formulae or will Visual Basic do?

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Thanks Mr. Rolin and OBP, I am little intermediate in computer ( read Excel) experience and in Visual basic I am afraid I am nill. So I will be highly obliged if you will supply AND EXPLAIN in short tips use of your suggestions of Functions
Many thanks to all who have taken interest in my problem.

7. OBP

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hirendra, I am not sure if this is what you want?
I am a little lost by the numbers in the txt document, I am not sure if there are too many zeroes.
Anyway this version has 3 columns with simple calculations in, 3 with the formulae in and one with the Total Tax.
Obviously the calculting columns can be hidden.
If you would rather have a visual basic macro I will create another one for you.

Attached Files:

• tax calc.xls
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Many thanks for your patience. I am sorry I had been away for a while and so could not view your reply. I have seen now and think I am satisfied with your reply and method. As for Visual basic it is not necessary, since even if you will give ne simplest answer it would be wasted on me. ( I hardly know anything in VB.)
hanks again.
And By the way I do Like your Post scripts...." I do not give up easily".. It has really encouraged me.
I think this is an end to this thread.
AAmin.....

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