Re: What Is The Basic Knowledge About TDS On Salary

Dear All,

I want to know about TDS step by step. Can anyone help me out?

Thanks & Regards,
Lisha

Hi,

If you want the detailed TDS calculator, I can email it to you. In short, it works like this:

Total Gross Salary
Less Exemptions:
- HRA,
- Medical,
- and others

Less Deductions
Less other taxes Paid
Add Other Income earned
Net Taxable Income
Tax on Taxable Income
EC
HEC
Total Tax payable

Hi,

Please review the sheet. You are required to enter data only in the exemption data and payroll image sections; all other fields are automated. Alternatively, you can refer to the first sheet and manually calculate the deductions/exemptions to understand how the tax is computed. This sheet is set up for the financial year 2012-2013, and I am in the process of preparing a new one for 2013-2014. Enable all macros. If you encounter any issues, please email me at ravi.exe@gmail.com.

Thank you.