Tax on pay, worked out from the slab
Set tax bands once, and assign a slab to each employee.
- Bands with a rate each
- Deductible limits
- A slab for each employee
What is inside
Tax settings you control
You enter the slabs. Hexabooks applies them.
Tax slabs
Name a slab and add its bands.
Bands and rates
Each band has an upper amount and a rate.
Linked account
Link a band to a tax account in your books.
Tax deductible
Set a deductible percent and a limit.
Reducible items
Record items that reduce an employee's tax.
A slab for each person
Choose the slab in the employee's settings.
How it works
Set up a slab in three steps
Update it when the rates change.
- 1
Name the slab
For example, single or couple.
- 2
Add the bands
Enter the upper amount and rate of each band.
- 3
Assign it
Pick the slab for each employee.
An example slab
Bands, from low to high
Each band has an upper amount and a rate.
Upper amount
Where the band ends.
Rate
The tax rate for that band.
Account
Where the tax is booked.
| Band | Up to (yearly) | Rate |
|---|---|---|
| Band 1 | 4,00,000 | 1% |
| Band 2 | 6,00,000 | 10% |
| Band 3 | 9,00,000 | 20% |
Example bands only, not current rates. Use the rates your accountant confirms.
Common questions
Questions about tax slabs
Short answers.
Does Hexabooks set the tax rates?
No. You enter your slabs, so you can update them when rates change.
Can different employees use different slabs?
Yes. Each employee has their own slab setting.
Can I limit what is deductible?
Yes. A tax deductible setting has a percent and a limit.
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