XLOOKUP for Tax Slabs in Excel | Automatic Income Tax Calculation (Modern Excel)

In this video, I demonstrate how to use the XLOOKUP function in modern Excel to automatically calculate income tax using a tax slab table. Instead of using complex nested IF formulas, we apply a professional, scalable approach: -Identify the correct tax band -Retrieve the fixed tax for that band -Calculate tax on the excess income -Apply the marginal tax rate using XLOOKUP with approximate match logic This method is ideal for: -Accountants -Tax professionals -ACCA / finance students -Analysts building clean, audit-safe Excel models The tax slabs used in this video are for demonstration only. The focus is on the Excel logic, which remains valid even if tax rates or thresholds change. In upcoming videos, we will further simplify and professionalise this model using: LET function LAMBDA functions Dynamic dashboards 📌 Subscribe for advanced Excel tutorials for finance and accounting professionals.