Procedure to enter chapter VI-A Deduction in Saral TDS
In this post, we will see how to enter Chapter VIA deduction details in Saral TDS.
Chapter VIA deduction are the details of savings/investments/necessary payments made by the employee in different modes. The different types are investment in PF, payment of medical premium, payment to charity funds etc.
In Saral TDS, providing these deduction details is important for deriving the right amount of TDS deduction from the employee salary.
To enter the details, go to Tax Computation under Form 24Q.
Here, select the employee for whom the entry has to be made. Next, click on “…” button across Deduction u/s VIA.
The deduction entry window will be displayed. This window lists all the different types of deductions applicable for an employee.
Note: The amount shown in 80C row is the PF amount deducted from salary. Hence, salary PF need not be re-entered in 80C section.
Now, enter the savings/investments/necessary payments under the applicable sections.
80C: To enter the details in this section, click on “…” button in the row section. In the displayed window, select the type of savings/investments/necessary payments from the dropdown and enter the amount paid.
Note: The gross amount is the amount payable for the selected type. Qual. Amount is the amount declared by the employee for making the deduction. Proof Amount is the amount paid in actual by the employee with proof of payment.
To view the list of different types of savings/investments/necessary payments listed under 80C, click on LIST button.
Back to section list; enter the 80CCC investment details if any. Similarly, enter the 80CCD(1) investment is available.
Note: The total deduction available from 80C+80CCC+80CCD(1) is Rs. 1.5 Lakh which is auto considered by the software. In case of 80CCD(1B) investment which is not a part of above deduction, separate entry of investment paid to be done where the deduction limit is Rs. 50000.
Medical Insurance Premium payment details will be entered under 80D. The amount paid for self and parents have to be separately shown. In case, parents or self are above 60 years, the check box of 60 years and above have to be enabled to avail increased deduction. The deduction available under this section is Rs. 25000 for self and parents respectively. In case of above 60 years, the deduction is raised by another Rs. 25000.
If the employee wants to avail deduction for preventive health check-up done, the same can be entered under the Preventive Health Check-up up-to Rs. 5000. Here, is the deduction is available only to the extent of unconsumed deductions.
I.e. in case, the premium is of Rs. 22000 then preventive health check-up can be claimed only for Rs. 3000.
For very senior citizens (aged above 80 years), where medical insurance is not available, deductions can be claimed on their Medical Expenditure. The entry of such details can be made under ME button.
Donations made to charitable institutes/trust can be entered under 80G by clicking on the “…” button. Here, select the serial number for the dropdown on which the Description of the type of donation will be displayed in the below box. Enter the amount of donation and Save.
To know on the different types of donation and their exemption limit, click on LIST.
Note: Click on Calcu. Note to know on exemption calculation.
Similarly, all other savings/investments/necessary payments have to be entered in the relevant section. After entering all the details, click on Save. This total amount of exemption will be taken for Tax Computation of the employee.
This completes the process of entering savings/investments/necessary payments details under Chapter VIA in Saral TDS.