Bulk Data Income Tax Calculator for Multiple Employees for Financial Year 2019-20 / Assessment Year 2020-21 and Bulk TDS Calculation (Salary) in Excel

I have already uploaded an excel Income Tax Calculator for Individuals for this FY 2019-20 which will be useful to individuals.

But for HR Department, to arrive the estimated amount of TDS based on input of salary and other particulars, will be very tedious if the number of employees is numerous, since they need to input in that excel tool for each employee.

Considering in mind to help the HR and Accounts in Small organisations where in, the number of employees are limited (May be around 300), I have developed an Excel tool (Simple not a full fledged software) for calculating the Income Tax, TDS amount etc for multiple employees. In that you need to fill in all the details in the Input Range and Click a Command Button. That’s it. You will get Result/output in a statement in the excel sheet.

Basic Requirements.

1. The monthly payroll register is in excel sheet, having various heads of Salary Components and deductions are in Columns and each and every employee details are in rows.

2. I formatted an Input Table (Sheet) where in you need to input the required data. You can just copy and paste from your Salary register. Arrangements of columns may not be matching in the same order you maintain.

a Basic and General Employee Information 10 Columns Name, DOB, Gender, Rent Paid by employee, etc
b Salary Particulars

(Input can be in per Month or Per Year)

13

Columns

Basic, HRA, CEA, Medical Allow, LTA, Bonus, etc
c Reimbursement 6

Columns

Food Coupon, Telephone Reim, etc.,
d Deductions 6

Columns

PF, PT, LIC, TDS, etc.,
e For IT Deductions 12

Columns

For 80 C and 80 D etc.,

LIC Premium, Tuition Fee, PPF, Housing Loan repayment and Interest Payment, MF Invt., Mediclaim Policy Premium etc.

f Report / Output 16

Columns

Statement of Estimated Tax Calculation for each employee.

3. Result / Output will be with 16 Columns with Name, Gross Salary , Sec 10 Deductions, Rebate , Total Taxable Amount, Tax Amount, Surcharge if any, Cess, Total Tax Payable, etc.

We can extract any other necessary information from my Tax Calculator to the Result / Output Statement. On your request I may modify the template accordingly.

4. Further, while processing the Tax Calculation in Bulk, you can save separate files in my Tax Calculator Template , for each employee apart from the Statement of output in excel sheet for every employee.

5. This will reduce the time of Copying and Pasting the required inputs from your Salary statement to my Tax Calculator Template and Copying the Results from my Template to your Report Statement.

6. You may input the salary components figures for a month. Such case you need to provide for “how many months” in a separate column to make that figures for Per Annum.

7. The advantages of saving the Tax Calculator for each employee are:

a. You can edit and modify the Annual salary information on monthly basis, and other input as and when you
need.

b. To include any further inputs as may be required viz. Actual investment, Actual Rental Income etc. at any time.

c. You can share the file with the employees.

d. I may provide another tool to Export necessary results from each of this Excel file (calculator) stored in a particular folder, to another Excel Sheet (Employee wise, Columnar) just on Click. So that, at any time, you can export the result after your modifications / corrections in the individual Employees’ excel file.

8. You need to take IT Declaration Form duly filled in from each employee for this purpose.

This excel tool will import each employee’s data into my Tax Calculator and export the required results in a Statement.

Please note that this excel tool will be facilitating you in arriving the estimated Tax, TDS amount, etc.,. Please seek experts’ advice in this field to calculate the Exact TDS amount to remit to the Govt.

Maximum effort is made to make it error free. However, if you find any inaccuracy/error in this calculator or want any clarification on some aspect in this tax calculator, please send an e-mail and I will try to reply at the earliest.
You can download the latest file from this link also.

Tags : Income Tax Calculator for Multiple Employees for FY 2019-20, Bulk Data Income Tax Calculator for FY 2019-20 for Salaried Employees, Bulk TDS Calculation (Salary) for FY 2019-20 in Excel

If anyone wants to add additional Columns for adding more Salary Components, Salary Deduction Heads, Applicable IT Deduction and Exemptions etc., please email me @ grajan_k@yahoo.com

(We have updated calculator on 18.08.2019 )

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27 Comments

  1. KameswaraRao says:

    Sir, I am a Senior Citizen. Part of my retirement benefits were deposited with LIC by my company and I am receiving a fixed amount monthly. Is this amount can be treated as pension? If it is correct am I eligible for standard deduction? My other earnings are interests from Bank, Post office and Mutual funds. As you have developed income tax calculator for salaried, I think you must have developed for Senior Citizens too. I request you please forward me to my email. Thanking you. kkrao22@gmail.com

  2. Kramn says:

    DEAR sir , please letme know whether interest earned on Deposits with, N BFC and Nidhi Companies are eligible .for deduction u/s 80tta and 80ttb of amendment of IT act w.e.f. FY2018 .
    What is the limit of amount for deduction of TDS u/s 194a of the Act on the amount of interest earned from entities referred to above.PLEASE provide the information on my email id kriyer1952@gmail.com .

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