Skip to main content

How To Create Income Tax Calculation Excel Worksheet

Microsoft Excel may be used to prepare employee pay sheet with Basic pay, medical allowance, conveyance allowance, house rent and income tax entries. Each of the mentioned entries in worksheet will be calculated automatically using functions and custom formulas applied to required cells in worksheet.
income tax calculation employees formulas excel
Income Tax calculation Formulas Calculate pay of employee using income tax in Excel
After entering the sample data in the worksheet, following formulas will be applied:

Q: Create an MS Excel Worksheet to calculate Net Pay of Employees. Input is EmpID, Name, Job
 and Basic Pay. Fill sample data in it as shown in the figure. Calculate Medical Allowance 10% of basic pay, House Rent 50% of basic Pay and Conveyance Allowance 30% of basic pay. Deduct income tax 5% of basic pay if basic pay is less than 30000 and income tax 10% otherwise.
BASIC FORMULAS:
Medical Allowance = D3 * 10%
House Rent                = D3 * 50%
Conveyance Allowance = D3 * 10%
Income Tax   = IF(D3<30000,D3*5%,D3*10%)
Net Pay  = SUM(D3:G3)-H3

You would like to :

EXPLORE  more Microsoft Excel Formulas for Worksheets and downloads

income tax calculation employees formulas excel
Electricity Bill Calculator Formulas in Excel 


Microsoft Excel Formulas and Functions Fast and Easy Way -1

Using Simple Formulas in Excel With Arithmetic Operators 2


How Functions are Used in Excel Fast and Easy Way 3


Create Bar Chart in Excel Easily by Example


Employee Pay sheet Formulas in Microsoft Excel 

Students Test Score Grades Result Sheet in Excel

Microsoft Office Word Processing Practicals


Comments

Popular posts from this blog

Explain different types of storage devices

Topic: Explain different types of storage devices in Computer systems Storage Devices Storage devices are used to store data and instructions permanently. Storage devices are also called secondary storage devices / backing storage devices / external storage devices or auxiliary storage devices. Examples of storage devices include Hard Disk, CD and DVD etc. Why Secondary Storage Devices are Used? Secondary storage devices are used because: Primary memory(RAM) is volatile and temporary. When computer is switched off, all data in ram is erased. Storage devices can store large amounts of data and instructions permanently whereas Primary memory has less capacity of storing data. Types Of Storage Devices There are three main types of storage devices:  Magnetic Tape   Magnetic Disk   Optical Disk   Flash Memory storage devices 1. Magnetic Tape Magnetic tape is the oldest storage device. It is made of plastic coated with m...

Explain Different Types Of Output Devices

Output devices Out put devices are used to display results of processing to the user. They perform the following functions:  Receive results from memory  Convert data into human readable form  Display results to the user Examples include: Monitor, printer, plotter, speaker, and multimedia projector. Different Types of Output Devices 1.    Monitor LCD Monitor CTR Monitor     Monitor is the most commonly used output device used to display results of processing. It has a TV like shape. Pictures on monitor are formed with picture elements called PIXEL. Monitors may be Monochrome that will display results in Black & White. Color Monitors are also available. They display results in multi colors. Monitor produces soft copy output. 2.    Printers Printers are used to produce hard copy out put. They print processing results on paper. Printers are divided into two main categories: · ...

Types Of Scanners Input Device

Scanner / Optical Scanner A scanner is an input device for computer. It can scan any printed document with text as well as images. It will : Read any printed paper or picture, Convert text or images into digital form Saves this converted digital file into computer storage for later use Uses Of Optical Scanners You can scan your documents or pictures to: Store into computer memory. To save lot of effort and time because if you type the whole text on printed page, it will take effort as well as time). Show image or text on computer screen or on a multimedia projector's screen. In addition, you can send this scanned document or image to your friends all over the world with the help of Internet & Email. You can publish the scanned documents or images on your website or blog. You can apply online and send the scanned images of your academic documents in any part of the world within minutes. If your scanner supports OCR - Optical Character Recognition, you can scan a page...