Simple Salary Entry in Saral Income Tax

In this post, we will see the Salary entry in Saral Income Tax of an individual.

Let us begin

The pre-requisites for this are as below;

  • Form 16 / All month payslip from the employer
  • Assessee details should be prepared (check the tutorial on Assessee creation)
  • In case of multiple employers (worked for more than one employer in the year), make sure to split the details accordingly

To begin with, select the individual and under Computation tab.

Salary Entry in Saral Income Tax - click on Salary option on the Tax Meter

On the right-hand side of the screen, the salary entry screen will be displayed. First, select the Number of Employers i.e., with how many employers the individual was employed in the FY.

Salary Entry in Saral Income Tax - Select the number of employers

Now, enter the salary details of the individual.

Note: In case of more than one employer, the salary details have to be entered separately for each employer.

The salary details can be entered in three ways in Saral IncomeTax. Those are;

  • Form 16 – Details as in Form 16 received from the employer(s)
  • Yearly – Annual salary details as in payslip of the individual
  • Monthly – Month-by-month salary details as in payslip of the individual

Goto Entry Type and select the required type of salary entry from the dropdown.

Salary Entry in Saral Income Tax - Go to entry type

FORM 16 ENTRY

Firstly, we will see FORM 16 type of salary entry. Select Form 16 from the dropdown and click on “…” button.

Salary Entry in Saral Income Tax - Select Form 16

The salary entry screen will be displayed. Here, enter the salary and other details as in Form 16.

Salary Entry in Saral Income Tax - enter the salary details

The details to be entered in this screen are;

  • Employer details as in FORM 16

Salary Entry in Saral Income Tax - employer details as on form 16

  • Salary Details as in FORM 16 – Basic salary details with allowances under sec 17(1), Perquisites details under sec 17(2), Profits in lieu of salary under sec 17(3)

Salary Entry in Saral Income Tax - salary details as on Form 16

Note: Exempt allowance details have to be entered in the “…” button shown next to “Less: Allowances…”

Salary Entry in Saral Income Tax - exempt allowance details

Enter the Allowance details, select the applicable section under which it is exempt and enter the amount that is to be exempt from tax. Also, after entering, save the information.

  • Lastly, enter the deduction details – Standard Deduction of Rs. 40000 will be auto considered. Entertainment Allowance and Professional Tax details have to be entered as applicable.

Salary Entry in Saral Income Tax - Enter deduction details

On entering all these details the “Income chargeable under the Head Salaries” will be computed.

Salary Entry in Saral Income Tax - computation of Income chargeable under the Head Salaries

You need to Save the details and continue.

YEARLY ENTRY

Now, we will see how the yearly salary details can be entered. Select Yearly option form the dropdown and click on “…” button.

Salary Entry in Saral Income Tax - Select yearly option

The salary details entry screen will be displayed. The details are to be entered in different tabs as shown on the screen.

Salary Entry in Saral Income Tax - enter details in different tabs

Then, enter the details, one by one;

  • Employer – Details of the employer

Salary Entry in Saral Income - enter the employer details

  • Summary – Salary details will be auto-populated from the subsequent tabs. Deduction details have to be entered manually.

Salary Entry in Saral Income Tax - enter deduction details manually

  • Main Components – Basic Salary details

Salary Entry in Saral Income Tax - enter main components

  • Allowances – Different Allowances details with exemptions

Salary Entry in Saral Income Tax - different allowances

  • Perquisites – Different perquisites details with exemptions

Salary Entry in Saral Income Tax - perquisites details with exemptions

Note: Add / Remove Perquisites link can be used to list only the required perquisites on screen. Select the required perquisites and save. The selected will only be listed on the screen.

Salary Entry in Saral Income Tax - Add/remove perquisites link

  • Others – Other than salary details like Bonus, Commission, etc.

Salary Entry in Saral Income Tax - other than salary details

On entering the details in each of the tabs, click on Save to save the details.

MONTHLY ENTRY

Next, we will see the monthly salary details entry to Saral IncomeTax. This is similar to yearly entry but the details have to be entered on a monthly basis. Select Monthly option form the dropdown and click on “…” button.

Salary Entry in Saral Income Tax - select monthly option

The salary details entry screen will be displayed. The month on month salary details are to be entered in different tabs as shown on the screen.

Salary Entry in Saral Income Tax - enter monthly salary details

Enter the details, one by one;

  • Employer & Summary will be similar to an entry in Yearly entry

Note: Professional Tax entry, in Summary, can be done on a yearly basis or on a monthly basis by clicking on the “…” button.

Salary Entry in Saral Income Tax - entry of professinoal tax can be done

  • Main Components – Basic Salary details on a monthly basis.

Salary Entry in Saral Income Tax - enter basic salary details

Note: On enabling Extrapolate Values, the values entered in the first month will be automatically taken to all months.

  • Similarly, Allowances, Perquisites, and Other salary information has to be entered on a monthly basis

Next, On entering the details in each of the tabs, click on Save to save the details.

In case of multiple employers, enable Current / Latest Employer checkbox against the employer with whom the individual is employed as on MARCH month of the FY.

Salary Entry in Saral Income Tax - enable current/latest employer

On saving the details, the values entered will be taken for Income Tax computation which can be seen on the Tax Meter.

Salary Entry in Saral Income Tax - save the details

This completes the process of entering Salary details of an individual in Saral Income Tax

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