smlal Started The Discussion:
employees joined our organisation in November 08 on a CTC of 27,000/- & 35,000/- P.M. How to calculate how much TDS to deduct & at what % considering that they have not received any remuneration in 2008-09?
What if they have received any remuneration from previous employer? Then how much is the deduction?
For computing tax liablility for the employees' their CTC breakup needs to be studied along with their investments; i.e. the employees having package of 1,75,000/- (35000*5) from your current organization may get HRA, Transport exemptions (under section 10), PF Deductions (under section 80C) etc. before arriving at the taxable income.
The tax slab of the FY-0809 is (For Male employees)
Upto RS 1,50,000 0%
Above 500000 30%
For female employees
Upto Rs. 1,80,000/- 0%
1,80,001/- to Rs. 3,00,000/- 10%
3,00,001/- to Rs. 5,00,000/- 20%
Above 500000 30%
Hence after taking into consideration the exemptions even the employee drawing CTC of Rs. 35000/- from Nov'08 may not be liable for any tax.
Hello....this is Bhawana from Delhi. i am working with an UK MNC under the Govt. company. my salary is Rs.12,000 pm which comes upto Rs.1,44,000 per annum. so could u tell me please tht whether TDS will be applied on my salary or not...??? & if yes, then how much???? plzzzz reply me fast.....
Found This Useful? +Vote Up This Page Via Google.
Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.
Explore Topical Knowledge Areas
Topic Categories >> taxable income pf deductions tds on salary tax deduction telephone bill mobile phone Location-India-Secunderabad Complete List Of Categories
Interesting Relevant Discussions