Creating Income Tax Deduction Pay Head in Tally.ERP 9
To create the Income Tax Deduction Pay Head,
Go toGateway of Tally > Payroll Info. > Pay Heads > Create
Enter Pay Head name in theNamefield
SelectEmployees' Statutory Deductionas thePay Head Typefrom theList ofPay Head Types.
SelectStatutory Pay Type asIncome Tax
SelectCurrent Liabilitiesfrom theList of Groupsin theUnderfield
By default,Affect Net Salaryis set toYes
By default, the Pay Head component name entered in theNamefield will appear in the Pay Slip, if you want to change the default pay head component name then typerequired name inName to appear in Payslipfield
In theCalculation Typefield is defaulted to As per Income Tax Slab
Select the appropriateCalculation Periodfrom theList of Calculation Periods.
Note:To process salary weekly, fortnightly or daily along with TDS, day wise option should be selected asCalculation Period.
Note:Currently, theIncome Tax Amountfor the Employees needs to be calculated separately and entered while processing the payroll Voucher.
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