Download - TDS Calculation and Steps
BIGBYTE SOLUTIONS
PVT LTD
TDS CALCULATION
AND STEPS
Ways to Calculate TDS by Webpay
Using Forms Import and Export menu
TDS CONFIG & STEPSStep 1: Webpay Configuration (one time)a) Company Configurationb) Employees Masterc) Tax Settingsd) Tax Slab
Step 2: Pay code creation and setting its tax properties (one time)
Step 3: Perquisites
Step 4:Details of Rent Receipt
Step 5: Income from Other Sources
Step 6: Reimbursement Detailsa) Enter the Reimbursement Detailsb) Reimbursement Process
Step 7:Professional Tax
Step 8: Investment Details
Step 9: View Salary Slip
Step 10: To Make Statutory Statements for Income Taxa) Create update Tax Deductorb) Create update Tax Challanc) Generate E-TDS
Step 11: Reportsa) TDS Estimation Slipb) TDS Challan c) Publish Form 16
Notes: a) Manual Tax Calculateb) Edit Income Tax After Salary Process
a) Company Configuration
Step 1: Webpay Configuration
Deduct TDS on Arrear amount Both: TDS on Arrear amount will be deducted in the pay month irrespective of Net Arrear amount being positive or negative.Positive: TDS on Arrear amount will be deducted in pay month only if Net Arrear amount is greater than zero.None: TDS on Arrear will be deducted proportionately, not in pay month.
b)Employee Master
Fill Information Regarding Gender and PAN No.
c) Tax Settings
TDS deduction according to paid days
The rent amount will be prorated as per paid days, DOJ, Projected DOL but in case of Annual Rent receipts it will not prorate as per Paid days. Basic and HRA is also prorated I.e. if the employee gets full month basic but the rent amount is applicable from 15th of the month then Basic and HRA will be prorated. Actual rent paid amount is not prorated
The maximum limit of allowance for children education is Rs 200 & Hostel Charges is Rs. 600 for maximum of two children.
d) Enter Tax Slab
For Making The Slab:-
Select the type of slap u need:1)Individual2)Female3)Senior citizens
Click on save to make the new slab.
Step 2 : Pay Code Creation and its Tax Properties
Create Pay Codes and Tax Properties
Select whether the code created is :-a)Taxableb)Partially
Taxablec)Non-
Taxable
Step3: To Assign Perquisites
Enter Employee Code.
Perq. Value
Amount Recd. from Employee
Taxable Perqs. will be Calculated Automatically
Step 4: Details of Rent Reciept
Step5 : Income from Other Sources
Enter the Source of Incomeand the Income Amount
Step 6 :Reimbursement Details
a) Enter the Reimbursement Details
b) Reimbursement Process
Step7 :Professional Tax
PT Details
PT Location & Unit Mapping
Step 8: Investment Details
Step 9: How to Generate Salary Slip
Click on process
Salary
Salary process
Enter the employee id
Click on generate Salary slip
Select the type of report you want.
View Salary Slip After Salary & Tax Process
Step 10 : To Make Statutory Statements for Income Tax
a) Create Update Tax Deductor
b) Create Update Tax Challan
c) To Generate E-TDS
D- DEDUCTORR – REGULARQ- QUARTER
Step 11: Reports
a) TDS Estimation Slips
b) TDS Challan Report
c) Publish Form 16
Notes:
a) Manual Tax Calculate
If taxable amount is Rs. 250/- & you pay Rs. 200/- in that case you can
use this option.
Taxation->Enter Manual Tax
b) Edit Income Tax After Salary Process
If you need to change taxable amount in that case you can use this option.
Process->Tax->Edit Income Tax After Salary Process
THANK YOU