Dear All,
Could you please let me know, what would be the formula in excel sheet for deduction of Rs. 2000/- u/s section 87A (Max 2000 if Income upto 5 Lac) ?
Thank you in advance.
Best Regards,
Sharath.....
16 Replies
CA Gyati Gupta
(In Practice)
(8427 Points)
Replied 15 February 2014
=(if taxable income=< 500000, tax-2000, "no deduction")
MAHESHWAR
(CA Final (Article assistance))
(147 Points)
Replied 15 February 2014
JUST CLICK ON ATTACHMENT
Attached File : 362222 1286639 excel.xls downloaded: 2912 times
Sashikant Tripathi
(Chartered Accountant)
(218 Points)
Replied 15 February 2014
Please find attached excel file.
And enter the total income in cell A5, it will automatically reflect the deduction amount in cell B5.
you can also copy the formula to the below cells and use it.
Attached File : 220937 1286647 deduction 87a.xlsx downloaded: 1772 times
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 15 February 2014
thank you guys..keep sharing
Sharath
(Asst. Manager Finance)
(30 Points)
Replied 15 February 2014
Thank you all for sharing your knowledge....
Vaisakh Ayyappan Prakash(VAP)
(student)
(474 Points)
Replied 16 February 2014
=if(b1<500000,b2-2000,b2)
where b1 is total taxable income, b2 is tax chargeable
CA Nitin K. Varshney
(FCA DISA CCA Peer Reviewer (ICAI))
(616 Points)
Replied 16 February 2014
thnx for sharing file
CA Anil Soni
(Asst. Manager)
(201 Points)
Replied 17 February 2014
YOU CAN USE =IF(TAXABLE INCOME>1000000,(TAXABLE INCOME-1000000)*0.309+130000,IF(TAXABLE INCOME>500000,(TAXABLE INCOME-500000)*0.206+30000,MAX((TAXABLE INCOME-200000)*0.103-2000,0)))
Gurudeep singh
(Student)
(22 Points)
Replied 08 March 2017
@ Shasank Tripathi ..the formula provided by you is not effective when taxable income is less than 270000...i.e. amount of rebate would be more than tax amount
komal
(perfect)
(60 Points)
Replied 27 August 2017
| Originally posted by : Vaisakh Ayyappan Prakash(VAP) | ||
 |
=if(b1<500000,b2-2000,b2) where b1 is total taxable income, b2 is tax chargeable |
 |
This will give -2000 when b2(tax chargeable is 0)
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