Nov 04 2021 02:51 PM
please solve my problem.
I need this Excel formula-
problem 1:
"If the salary is not more than five lakh dollar, then income tax will be 1% of the salary, but not less than 200 dollar or more than 3000 dollar."
I need this Excel formula-
problem 2:
For income above one million dollars, the first one million dollars will be taxed at 5000 Dollars and the next dollar will be taxed at 0.5%.
Nov 04 2021 03:08 PM
Solution1) With salary in A1
=IF(A1<=500000, MIN(MAX(1%*A1, 200), 3000), "?")
2) With income in A1:
=IF(A1>1000000, 5000+0.5%*(A1-1000000), "?")
Nov 04 2021 03:08 PM
Solution1) With salary in A1
=IF(A1<=500000, MIN(MAX(1%*A1, 200), 3000), "?")
2) With income in A1:
=IF(A1>1000000, 5000+0.5%*(A1-1000000), "?")