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1.TAX DEDUCTION FORMULA :-
This is a Very tricky formula and deficult to understand that how is it works....
Let us read and understand this formula.....
First of all this formula is used in deduction of tax in Revers dimension
for example:-
You are preparing a Sub-Contractor's monthly bill for Plastering but no rate is decided yet and the Contractor's agreed on 100 $ per 1000 Sq.ft area but you have to deduct 6 % GST tax from the total contract amount.
Think for a while that what will be the total contract amount ?
Condition 1 = Contractor's is agreed is 100 $
Condition 2 = 100 $ Should be remain after Deducting 6% Gst tax
What will the contract cost.......?
Solution:
Lets take "X" the total contract cost = "X" = 100 %
and we that
X = Tax + 100 $
X = (6%+100$)=100%
100%-6%=100$
100$=94%
Now 100$/94=1.0638298 $
1% of X=1.0638298 $
100 % of X = 1.0638298*100=106.38298 $
Total Contract Amount = 106.38298 $
Now :- Shortcut = Davide the remaining % age with the remaining amount and multiply with 100 you will get the total amount
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Price Adjusting Formula:-
This also a very good formula to adjust the project cost after some time when rates get raised and estimate amount decrease from the executed amount
1. then we need some thing to adjust the rates according to the estimate
2.or adjust the estimate according to the current rates
for Full Example & Formulation :- Click Here
For Implementation of Formula :- Click Here
You will also need the Previous Estimate :- Click Here
Useful / Related Links:-
