I tried attaching the file but was unable to. However click below to see the complete trick
Derivation of Income Tax Formula in seconds
praveen (Chartered Accountant) (6971 Points)
13 March 2010
4 Replies
praveen
(Chartered Accountant)
(6971 Points)
Replied 13 March 2010
provide your valuable comments here please
was it of any help let me know
thank you
Jayesh
(Internal Auditor)
(214 Points)
Replied 15 March 2010
Your tricks seems complicated....but i will reply u soon abt it....also ur effort is appriciated....
CA Nikhil Mittal
(Manager (Audit))
(77 Points)
Replied 15 March 2010
Let assume E530 inthe given formula is Rs. 600000
then apply the given formula
=ROUND(IF(E530>500000,54000+(E530-500000)*0.3,IF(E530>300000,14000+(E530-300000)*0.2,IF(E530>160000,E530*0.1,0))),0)
= Rs. 84000
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