20191117-Excel-Running-Total-Formula

Fig-1-Running-Total-Formula-In-Computation-Of-Total-Deductions

They say a picture speaks what a thousand words cannot express, and that is the reason I prepared the above picture painstakingly in Microsoft Powerpoint, beginning by taking a screenshot of the worksheet showing the running total as a part of the calculation of the qualifying amount of the deductions u/s 80C under the various heads depicted from serial (a) to (f) under serial no. 5. Thereafter I added three other shapes, and the various captions and finally the explanation of the formula itself. If you want a copy of the formula, here it is in a copy-able format below:

=IF(E47=0,0,IF(SUM(E$40:E47)=0,0,IF(SUM(E$40:E47)<=Sec80CLimit,E47,IF(SUM(E$40:E47)>Sec80CLimit,Sec80CLimit-SUM(F$39:F46),0))))

Published by Vikram Shankar Mathur (vsmathurvivaldi)

I am a chartered accountant from Ahmedabad, Gujarat, India. You should contact me at vsmathur(at)vivaldi(dot)net !! Cheers !!

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