TDS Deduction Calculator from Monthly Salary

TDS Deduction Calculator from Monthly Salary in Excel
Calculates TDS to deduct monthly from Salary for the current year i.e. F.Y. 2015-16 from Employee declaration form. Provide also quick computation sheet to calculate tax liability.

House Rent – 

I am staying in a house and I agree to submit rent receipts when required. The Rent paid is (`10,000 Per Month) & the house is located in Metro
I will produce the Medical Bills to the satisfaction of the company for my eligibility of Rs. 15000/- as per Income Tax Act of else the company can consider the amount paid as taxable
Deduction Under Chapter VI A – 80C
E.P.F.Public Provident Fund (Maximum 1,50,000)
Bank Fixed Deposit (Tenure of 5 yrs and above)
Education of Children / Tuition Fees for 2 children
Equity Linked Savings Schemes
Infrastructure/Tax Saving Bonds
Life Insurance Premium
National Savings Certificate
Post Office Time Deposit Account (from financial 2007-08)
Repayment of Principal Amount of Housing Loan
Unit Linked Policies/Pension Funds
Others – Please Specify
Deduction Under Chapter VI A – Others
80CCC Contribution to Pension Fund (Jeevan Suraksha)
80CCD New Pension Scheme (Maximum 10% or Salary) for Central Govt. Employee
80D Medical Ins. Prem. (policy covering a Senior Citizen, additional deduction of Rs.15,000/- is available)
Health Ins. Prem. for Parents (additional deduction of Rs.5000/- if policy covering a Senior Citizen,)
 80DD Medical treatment/insurance of Handicapped Dependant A higher deduction of Rs. 100,00 is available, where such dependent is with severe disability of > 80%
80DDB “Medical treatment (specified diseases only)
(medical treatment in respect of a senior Citizen then additional deduction of Rs.20,000/- is available)”
80E Interest paid on Education Loans
80G Donations – 100% exemption
Donations – 50% exemption
80GGA Donation to University, etc for Reasearch, etc. (For Salary TDS not to account)
80GGC Donation to Political Party registered under Section 29A of the Representation of the People Act, 1951.
80TTA Interest Received on Savings Bank A/C
80U Permanent disability including blindnes as handicapped
For more details and calcultion, Download below Excel attachemnt 
CLICK HERE TO DOWNLOAD TDS Deduction Calculator from Monthly Salary in Excel

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