TDS Calculation Template – Commuted Pension

 

* This article only for academic purpose ! Not a Professional Advise

TDS Calculation Template – Commuted Pension

You can use this format in Excel or manually:

ParticularsAmount (₹)
A. Commuted Pension Received9,00,000
B. Whether Gratuity Received? (Yes/No)Yes
C. Exemption Allowed under Sec 10(10A):
→ If Gratuity Received: 1/3rd of full pension value=A × 1/3 = ₹3,00,000
→ If No Gratuity: 1/2 of full pension value—
D. Taxable Commuted Pension (A – C)₹6,00,000
E. Other Salary Income (if any)₹0
F. Total Salary Income (D + E)₹6,00,000
G. Deductions under Chapter VI-A (80C, 80D, etc.)₹50,000 (example)
H. Net Taxable Income (F – G)₹5,50,000
I. Income Tax Payable (As per slab)₹12,500
J. Cess @ 4% on tax₹500
K. Total Tax Liability (I + J)₹13,000
L. TDS Deducted under Section 192(2A)₹13,000

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