TDS on Salary Calculator26 February 2019
A startup client called us last evening, wanting to know up to what amount of salary could they pay one of thier new hires without deducting any TDS. The short answer is that if the total income of the employee is above basic exemption limit, TDS would have to be deducted. However, while arriving at the total income, other components such as Chapter VI-A deductions and other incomes also have to be factored in. At AGCA believe in adding value to our client in terms of providing constructive solutions and utilities that can be deployed in their business and further their growth.
Therefore, we designed a simple formula-based TDS on salary calculator using Excel that they could effectively use not only to see if TDS is applicable but also to see how much TDS has to be deducted. Moreover, this calculator can also be used by salaried individuals to ascertain their preliminary tax liability and plan for the year ahead accordingly.
We thought of sharing this with you in the hope that it will be helpful to you. If it is, please feel free to share it with others. In case you have any queries, please feel free to write to us.