If Total Income is less than equal to 500000 then Rebate under 87A will be 12500
Here is the Excel Formula.
Lets say Total Income Cell is A4 and tax cell is A5.
formula, =if A4<=500000,MIN(A5,12500),0)
thankyou
10 Replies
Ankit Varshney
(91 Points)
Replied 18 April 2019
| Originally posted by : rama krishnan | ||
 |
it's not 500000 but it's 350000 |  |
Satya N Dharani
(Finance Professional)
(491 Points)
Replied 22 April 2019
hi, shubam,
if(A4<=500000,MIN(A5,12500),0)
if a4=600000, a5=505000, formulae is not showing any difference, showing "0"
pl correct accoding its values.
CA Vinod Singhvi
(Partner at Rajesh Chheda and Company)
(29 Points)
Replied 28 April 2020
For 87A REBATE CALCULATION KINDLY CHECK THIS FORMULA =if (A4<=500000,A5,12500)
Thank you
CA Vinod Singhvi
(Partner at Rajesh Chheda and Company)
(29 Points)
Replied 12 May 2020
FOR 87A REBATE THIS FORMULA IS MORE APPROPRIATE
=IF(A4<=500000,MIN(A5,12500),0)
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