Income Tax :- Income Tax Calculator Formula for Excel

Sunday, January 19, 2014 | comments

         Microsoft Excel is common utility for users.  Lot of persons are using this utility for calculating different calculations.  Some times users create a utility but feel difficulty to create formula for calculating Income Tax.   In the interest of persons, we are providing excel formula for calculating Indian Income Tax in a single row  for the Financial Year 2013-14 or Assessment Year 2014-15.   Just copy and paste in your excel and enjoy. 

Basic Knowledge for use of this formula :-
  1. Taxable amount should be in Excel Cell K3 as shown in below picture. 
  2. Cell D3 stands for Others, Women, Senior Citizen and Super Senior Citizen. 
  3. Copy below formula and paste in Excel Cell L3.
  4. Care is required for use of copy and paste function. Nothing should be left for copy like brackets etc.

Formula for calculating Income Tax for Financial Year 2013-14 or Assessment Year 2014-15

=+ROUND(IF(D3="Others",IF(AND($K3>=200000,($K3<500000>=500000,$K3<1000000>=1000000,(130000+($K3-1000000)*0.3)),IF(D3="Women",IF(AND($K3>=200000,($K3<500000>=500000,$K3<1000000>=1000000,(130000+($K3-1000000)*0.3)),IF(D3="Senior Citizen",IF(AND($K3>=250000,($K3<500000>=500000,$K3<1000000>=1000000,(125000+($K3-1000000)*0.3)),IF(D3="Super Senior Citizen",IF(AND($K3>=500000,$K3<1000000>=1000000,(100000+($K3-1000000)*0.3)))))),0)-IF(AND(K3<=500000,K3>=200000,OR(D3="Women",D3="Others")),MIN((K3-200000)*0.1,2000),0)-IF(AND(K3<=500000,K3>=250000,D3="Senior Citizen"),MIN((K3-250000)*0.1,2000),0)

View and Copy above formula through Excel (Download Excel File with Formula)

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