How to calculate Payroll tax in excel with if function
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Step 1: To calculate the income tax with the help of IF function you have to prepare following sheet in excel.
Step 2: To calculate income tax amount you have to type following given formula in cell C13 =IF(B13<$B$2,”Nil”,IF(B13<=$B$3,(B13-200000)*$C$3,IF(B13<=$B$4,(B13-500000)*$C$4+30000,(B13-1000000)*$C$5+130000)))
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