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Thread: Want IF Statement to compute Tax formulas

  1. #1

    Want IF Statement to compute Tax formulas



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    I am currently working on Payroll that would calculate Housing Allowance, transport and others.. but I have problem with building UDF for Tax where the following condition will apply Between 50000 to 74999 should have tax of 10% of basic salary, Between 75,000 to 89,999 should be taxed 20% of Basic salary, between basic salary of 90,000 to 10,000 should be taxed 22% * basic salary ---- I want to define a Function which will be =Tax() to calculate using the parameters above. Please help I am new to VBA. I have defined functions for Housing as Function Housing(a), Housing = a* 34/100, End Function.... so also for transport and other - but the Tax will involve logical If and I don't know what to do next... thanks Please I need answer urgently. thanks and God bless u.

  2. #2
    See if this works ... i may not understood correctly what you need , but won't hurt to try. Of course you will need to change cell d16 to match your situation.

    Code:
    =IF(AND(D16>=50000,D16<75000),D16*0.1,IF(AND(D16>=75000,D16<90000),D16*0.2,IF(AND(D16>=90000,D16<100001),D16*0.22,)))

  3. #3

    Re: Tax Computation

    Quote Originally Posted by tommyt61 View Post
    See if this works ... i may not understood correctly what you need , but won't hurt to try. Of course you will need to change cell d16 to match your situation.

    Code:
    =IF(AND(D16>=50000,D16<75000),D16*0.1,IF(AND(D16>=75000,D16<90000),D16*0.2,IF(AND(D16>=90000,D16<100001),D16*0.22,)))

    Thanks a lot for your prompt response, but what i really need is to create a user defined function to handle the function above -- so that when I enter something like =Tax(a1, c2) it will calculate using the UDF name and the logical operation created above inclusive.

    So may be something like:

    Function Tax(a, b)

    If a >= 50000 Then
    b = 10/100 * a
    Elseif a>= 75000 Then
    b = 12.5/100 * a
    End If

    Where a (maybe) will hold the basic salary.

  4. #4

    Post salary income tax formula

    Hi, Dear

    Please give me the salary income tax formula i am from Gujarat

    Please send me the formula so, that i can put that formula in excel sheet and calculate the tax

    I am attached here the tax slab for your reference


    Attached Files Attached Files

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