How to add the TDS of your employee in SalaryBox?

Tax Deducted at Source (TDS) refers to the mechanism through which the government collects tax revenue by requiring certain payers to deduct a specified percentage of tax from payments made to the recipients. 

This system aims to ensure a regular inflow of tax and reduce tax evasion. TDS applies to various types of income, such as salaries, interest, dividends, and professional fees. The deductor, an employer, a bank, or any other person responsible for making the payment, deducts the appropriate TDS amount before releasing the funds to the recipient.

The deducted tax is then deposited with the government on behalf of the recipient. TDS plays a vital role in the country's tax administration, helping maintain transparency, compliance, and effective revenue collection.

With SalaryBox, you can easily add the TDS of your employee in a few minutes, providing you with both Old and New regime options.

To know how to add the TDS of your employee, follow these steps:

Desktop

1. Open the SalaryBox application and go to employees.

2. Go to the employee for whom you want to add TDS.

3. Click on Edit and go to Edit Employee.

4. Now go to Salary and go to Edit Tax Declarations. 

5. Here, you can switch regimes by clicking on Switch Regime.

6. You can also add Current Home Rent, Section 80 Deductions, Interest on Home Loan, and Leave Travel Allowance. 
If you need any further assistance, you can contact us at support@salarybox.in