TDS

Options
Non Editable IT Details: If this option is ticked then, it will not allow us to edit or enter any details in
Computation Details window.
Standing Instructions Extrapolate: If this option is ticked then, insurance details will get extrapolate
in Computation Details.
Calculate on Proof Amount: If this option is ticked then, until we enter the proof amount in
computation details, the exemption will not happen.
Auto exemption for Food and Non Alcoholic beverages: Enter the per day amount for exemption.
For this the TDS ref should be Free food and Non alcoholic Breverage. The calculation will be Total
Present Days for the particular month *Entered amount.

Automated Int. Free Loans Calc

(Calculation: Opening Balance of the month * %age defined)/12

ded u/s 24-standard deduction 30% of net annual value id deductible irrespective of any expenditure
incurred by the taxpayer.

STCG (Short Term Capital Gain)

Gains arising at the time of sale of Short Term Capital Asset shall be computed in the following ways:
Total value of Sale Consideration
(less) Sale Expenses)
(less) Acquisition Cost- The price which the assesses has paid for acquiring the Assset
(less) Acquisition/Improvement Expenses
 Auto Calculation
Car owned by employer and Used for Partial for Official
Reimbursed Car Capacity Driver Value of
Perquisites
Yes Upto 1.6 Lts Yes 2700
Yes Upto 1.6 Lts No 1800
No Upto 1.6 Lts Yes 1500
No Upto 1.6 Lts No 600
Yes >1.6 Lts Yes 3300
Yes >1.6 Lts No 2400
No >1.6 Lts Yes 1800
No >1.6 Lts No 900

80GG
Under this section, an Individual can claim deduction for the rent paid even if he don’t get HRA. Not
many people are aware of this deduction.
Exemption: 1) Rent paid minus 10 percent the adjusted total income (Gross total income).
2) Rs 2,000 per month.
3) 25 percent of the adjusted total income.
Least from the above will get exempt.

Gratuity Exemption
Exemption will be least of the below.
1) 15 days salary, based on last drawn salary for each year of service (i.e. 15 day’s salary *
length of service).
2) Rs 20,00,000/-
3) Gratuity actually received.

Leave Encashment
1) For government employee, leave encashment upon retirement or leaving the job is tax free
under section 10.
2) For non-government, it is exempt upto lease of the following.
i) Earned Leave (no. of months) * Average monthly salary.
ii) 10*Average monthly salary.
iii) Rs 3,00,000/-
iv) Actual leave encashment received.

Children Education Allowance

Maximum exemption is Rs 200 /month i.e. Rs 2,400/Fin Year, (Rs 100/Child).

Children Hostel Expenditure

Maximum exemption is Rs 600/month i.e. Rs 7,200/Fin Year, (Rs 300/Child).

Heads coming under section 10 for exemption

1) Gratuity
2) Leave Encashment
3) PF
4) HRA exemption
5) Conveyance.