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Method 2 – Using Tax Brackets for Computation of Income Tax in Excel Format Tax brackets are typically determined progressively by the federal government for different income ranges. So, you’ll need to create a table detailing the tax brackets and their rates. Steps: Calculate taxable income fr...
Net Interest Income Calculator Step 1: Loan Portfolio Assumptions Step 2: Net Interest Income Calculation Example What is Net Interest Income? Net Interest Income (NII) is a profit metric equal to the difference between a bank’s total interest income and the interest expense incurred. How to...
Assessment Year: Income Tax return, ITR, is bound to an assessment year. For income earned in FY 2015-6 assessment year is AY 2016-17. Income Tax return forms(physical and excel) of AY 2016-17 and AY 2015-16 are different,. A revised return for the correct assessment year needs to b...
Method 4 – Applying the VLOOKUP Function to Compute the Income Tax in Excel STEPS: Select a cell to calculate the income tax for an employee. Enter the formula: =VLOOKUP(C5,$B$12:$D$17,3,TRUE)+(C5-VLOOKUP(C5,$B$12:$D$17,1,TRUE))*VLOOKUP(C5,$B$12:$D$17,3,TRUE) ...