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TDS calculation Using Orange software "Electronic Filing of Returns of Tax Deducted at Source "

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Presentation on theme: "TDS calculation Using Orange software "Electronic Filing of Returns of Tax Deducted at Source ""— Presentation transcript:

1 TDS calculation Using Orange software "Electronic Filing of Returns of Tax Deducted at Source "

2 Process flow for TDS calculation Check/Set income tax slab setting according Financial year (admin/HR role) Verify all investment declaration master head (Account team/admin role) Check/Set parameter for TAX calculation according salary structure (admin/ HR role) Insert online investment declaration (Employee Self Service Portal –Emp role) Mail Us : Website :

3 Process flow for TDS calculation Start auto calculation process for monthly tax before salary generation each month (admin/HR role) Verify investment proof according declared amount & validate amount as per proof before end of Financial Year Monthly generate TDS challan Issue form 16 with tax detail form software via or Printable Mail Us : Website :

4 Income tax slab setting- Step 1 Control panel > Income Tax limit In below screen you can set income tax slab according gender & effective date Mail Us : Website :

5 IT master setting Salary detail > TDS > IT master In IT master you can set investment declaration head which are useful for investment declaration. By default all heads are in software but in case any stage change in Govt. & active/deactive new exemption policy. Mail Us : Website :

6 IT form Design Salary detail > TDS > IT Form Design Basic parameter setting for tax calculation according to tax law. With the help of this module you can re-design tax method & Form 16 according customize salary head as per company policy. This main part for tax calculation is it user define & can be change as per tax law user can set new law with the help of this module. Calculation is depend on row no in ascending order. Total earning, standard deduction, net taxable amount, total tax By default parameter has set, only user has to set them earning head in order by row no. With the help of this module you can define each parameter calculation method, spacing for line, caption shown in form 16, max limit. Mail Us : Website :

7 IT form Design Salary detail > TDS > IT Form Design Mail Us : Website :

8 IT form Design 1.AD( allowance Deducation) Name : User can select salary head from this field 2.Row No. : It is most important part as you need to move in ascending Order 3.Field Name : User can define here caption of field name which display on Form 16 & tax computation sheet 4.IT Name : From here can select declaration head which are user full for exemption 5. Default Name : Some default static head which are use to mapping according to respective salary or deduction head Mail Us : Website :

9 IT form Design 6.Total : Form here you can set calculation method like Sum, difference, competition of more then one amount 7.From Row no & To Row no : User can select calculation from which start row to end row e.g. for gross salary you set Total in total field, from row start from basic & end row Total earning head. It will give out sum of basic & all other earning head which come between row no 8.Max limit & compare type : it is use full for define max limit for calculated head & compare with lower or higher amount. E.g Mediclaim – max tax free 15,000 annum. 9.Concate Space : User can define space gap start from left (It is use full for make group) 10. Is Show : can hide show particular filed for form 16 Mail Us : Website :

10 IT form Design Mail Us : Website :

11 IT investment declaration (Admin/ ESS) under salary detail > TDS Employee Self Service Portal – Self declaration Employee can declare investment for tax saving online investments declaration form with attaching soft copy of declaration proof & also user can calculate & view Tax amount base on earning & declared provisional value. User can change declared value in particular period given by HR/admin after it will lock automatic ESS Portal. Mail Us : Website :

12 IT investment declaration Mail Us : Website :

13 IT investment declaration Mail Us : Website :

14 IT investment declaration Mail Us : Website : Final Tax of Rs -4854

15 Monthly Tax calculate Salary detail > TDS > IT Tax planning With the help of tax planning account team can calculate monthly tax based on earned salary of employee & Assume provisional salary for remaining duration. Select appropriate period for tax calculation Monthly field indicate e.g May month tax amount to be deduct from salary. – Click on Save to process. Mail Us : Website : Monthly tax- Rs 3509

16 TDS challan Salary detail > challan > TDS challan After generate salary & tax deduction you need to submit/credit tax through challan. At the end of FY & while generate Form 16, challan entry will display in form 16 in annexure Mail Us : Website :

17 Contact Us ORANGE TECHNOLAB PVT LTD. 7th floor 703 Kataria Arcade, Beside Adani School, Makarba, Sarkhej Gandhinagar Highway Ahmedabad , Gujarat, INDIA. Us Call Us Landline , Mobile ( Mr Gaurav / Yesha ) Website URLs software.co.in


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