Income Tax Calculator in MS Excel
Please help me build an Income Tax Calculator in MS Excel format. Details of the calculator should be as follows:
Data to Input Manually
(a) Total Salary (in a year) = [input manually]
(b) Taxable Salary per Month = [input manually]
(c) Add: Bonus/Incentives = [input manually]
(d) = (a) + (c) = Total Taxable Income
Output Result
(a) Total Income Tax for the year
(b) Income Tax per month
Tax Slab
Male
On first Tk. 3,00,000 = NIL
On next Tk. 1,00,000 = 5%
On next Tk. 3,00,000 = 10%
On next Tk. 4,00,000 = 15%
On next Tk. 5,00,000 = 20%
On the balance of total income = 25%
Female & Senior Citizen
On first Tk. 3,50,000 = NIL
On next Tk. 1,00,000 = 5%
On next Tk. 3,00,000 = 10%
On next Tk. 4,00,000 = 15%
On next Tk. 5,00,000 = 20%
On the balance of total income = 25%
From Bangladesh
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Please help me build an Income Tax Calculator in MS Excel format. Details of the calculator should be as follows:
Data to Input Manually
(a) Total Salary (in a year) = [input manually]
(b) Taxable Salary per Month = [input manually]
(c) Add: Bonus/Incentives = [input manually]
(d) = (a) + (c) = Total Taxable Income
Output Result
(a) Total Income Tax for the year
(b) Income Tax per month
Tax Slab
Male
On first Tk. 3,00,000 = NIL
On next Tk. 1,00,000 = 5%
On next Tk. 3,00,000 = 10%
On next Tk. 4,00,000 = 15%
On next Tk. 5,00,000 = 20%
On the balance of total income = 25%
Female & Senior Citizen
On first Tk. 3,50,000 = NIL
On next Tk. 1,00,000 = 5%
On next Tk. 3,00,000 = 10%
On next Tk. 4,00,000 = 15%
On next Tk. 5,00,000 = 20%
On the balance of total income = 25%
From Bangladesh
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To create an Income Tax Calculator in MS Excel for Bangladesh, follow these steps:
1. Input Section:
- Create columns for Total Salary, Taxable Salary per Month, and Bonus/Incentives.
- Manually input the values for Total Salary, Taxable Salary per Month, and Bonus/Incentives.
- Calculate Total Taxable Income by adding Total Salary and Bonus/Incentives.
2. Tax Calculation:
- Implement the tax slabs for males, females, and senior citizens as provided.
- Use IF statements or VLOOKUP functions to calculate the tax based on the respective slabs.
- Apply the tax rates accordingly for each slab.
3. Output Section:
- Calculate the Total Income Tax for the year by summing up the monthly tax amounts.
- Determine the Income Tax per month by dividing the Total Income Tax by 12.
4. Validation:
- Test the calculator with different salary scenarios to ensure accurate calculations.
- Verify that the tax amounts align with the specified tax slabs for males, females, and senior citizens.
By following these steps, you can create a functional Income Tax Calculator in MS Excel tailored for Bangladesh's tax regulations.
From India, Gurugram
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1021. Input Section:
- Create columns for Total Salary, Taxable Salary per Month, and Bonus/Incentives.
- Manually input the values for Total Salary, Taxable Salary per Month, and Bonus/Incentives.
- Calculate Total Taxable Income by adding Total Salary and Bonus/Incentives.
2. Tax Calculation:
- Implement the tax slabs for males, females, and senior citizens as provided.
- Use IF statements or VLOOKUP functions to calculate the tax based on the respective slabs.
- Apply the tax rates accordingly for each slab.
3. Output Section:
- Calculate the Total Income Tax for the year by summing up the monthly tax amounts.
- Determine the Income Tax per month by dividing the Total Income Tax by 12.
4. Validation:
- Test the calculator with different salary scenarios to ensure accurate calculations.
- Verify that the tax amounts align with the specified tax slabs for males, females, and senior citizens.
By following these steps, you can create a functional Income Tax Calculator in MS Excel tailored for Bangladesh's tax regulations.
From India, Gurugram
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Income Tax Calculator.xls