Dear Experts,
I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax.
Here are the examples with expected result. Please let me know the formula on how to get the given result.
Example1:
Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations)
Tax1 rate is 10% and Tax1 is inclusive.
Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1
Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2
Expected Results are:
Tax1=76.34
Tax2=83.97
Tax3=76.34
Let me know formula to derive above values?
Example2:
Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations)
Tax1 rate is 10% and Tax1 is inclusive.
Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1
Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2
Expected Results are:
Tax1=75.70
Tax2=83.27
Tax3=84.03
Please let me know formula to derive above values?
Thanks in advance.
- 1 Answers
- 1837 Views
- ABC, I also Faced
- E-Mail Answers
Answer / Rajnish Kumar Shriwastawa
Example1:nTotal Product Value (V) = 1000nTax1 rate is 10% (T1) and Tax1 is inclusive.nTax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 (T2 = T1 * (1 + T1)).nTax3 rate is 10% with Tax3 is inclusive but there is no cumulative of Tax1, Tax2 (T3).nnFormula to derive above values:nT1 = V * 0.1nT2 = T1 * (1 + T1)nT3 = V * 0.1 - T1 - (T2 * 0.9)nnExample2:nTotal Product Value (V) = 1000nTax1 rate is 10% (T1) and Tax1 is inclusive.nTax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 (T2 = T1 * (1 + T1)).nTax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 (T3 = T2 * (1 + T2)).nnFormula to derive above values:nT1 = V * 0.1nT2 = T1 * (1 + T1)nT3 = T2 * (1 + T2)
| Is This Answer Correct ? | 0 Yes | 0 No |
what is bank reconcillation statment,balance sheet,thumb rules of accounts,depreciation?
How to make fdr entry in tally software i dont understand. when fdr open from bank and after work and interest it get closed. i want to understand how to make ledger of that and full details please help me
WHAT IS THE LAST DATE FOR PAYMENT OF TAX OF EXCISE DUTY IN CASE OF ( SSI ) UNIT .
We are generally give order to the printing company for printing our uniqe file,calender,sovenour,answer sheet,envelop etc, when company submite the bill it charge the bill includes vat@4%, so can we deduct the TDS on total invoice value or only cost amount (exclude the vat).
what typae of accounts?
what is cost taxation
plzzzzzz help me friend my question is, is the tds of part of income tax and when it deduct from salary and why becose tds is deduct only secoundry primary income like lotory etc..
Define previous year.
When a company sold the material to is customer which is at another state under Form-C his bill was pertaining to first quarter but the customer received in second quarter. The customer will issue Form-C as per Invoice date or Material Received date.
What will be the rate of TDS on contractor if the amount paid in a year crosses Rs.75000/-
this is regarding the C form. suppose Mr A registered dealer in Haryana and Mr B registered dealer in UP and Mr A issue a Purchase Order which include 4% CST on Price to Mr B for purchasing the goods. In this scenario, is Mr A is required to issue the Form C to Mr B?
I have two sons & 10lacs money which is from my arrear how I can save more tax ?.......Can I give them gift 5lakh each which neither taxable for my son nor for me...........?
Audit 
