For Calculating TDS to be Deducted on Salary of an employee you must first know that TDS on a particular expense that a company does is deducible as a certain percentage of the expense bill received by the company paying for the expenses, Except in case of salary.
In case of Salary the main intention of the income tax department is to free the common person doing regular service in an organisation from the hazels of Income Tax, which they have achieved to a large extent by introducing TDS.
But this makes the life of an accountant hell, because he has to calculate the amount of monthly TDS to be deducted on the salary income of a person which he would earn in future. Since the future is uncertain the calculations are to be made again and again and the amount of tax deducted change in certain months. This changing amount of TDS make the employee feel that he is been cheated and hence there is always a fight between the TDS accounting team and other employees in the organizational.
So I have always recommended people that they should buy a professional TDS software which can handle all things from calculating TDS to Filing TDS returns and also to Revising wrong TDS Returns filled earlier. But the problem is they do not like to spend on TDS and also some firms can not afford to buy a software of Rs.5000 per year just for TDS, since they pay a total of just Rs.7000 TDS in a year and also its not logical for them to purchase a TDS software.
Hence I have Prepared an Excel utility (with 150 employee capacity) for them, also you can generate part B of form 16 from this. So If you also do not wanna spend on those useless TDS software they you can also download this Utility which requires just Microsoft excel installed in your P.C. And best part its absolutely free and will always be.
Now you can now download new revised TDS calculation Sheet containing Form 16 (Part B) (find link below) which contains 80E deduction and plus it gives values in form 16 (part B) automatically, which is to be prepared manually now, Part A of form 16 has to be downloaded from Traces for this year onwards.