Dear All,
Does anyone know how to calculate the tax on a salary?
There are two rates of Tax applicable on the salary if it is more than
12,500 up tp 100,000 it is 10% and on above 100,000 it is 20% applicable.
eg.
if salary of someone is 130,00. the tax should be a followed:
(100,000-12,500)*10%=8,750
30,000*20% = 6,000
the total tax is then 14,750.
so, my question is how to put this and calculate this in one cell?