TDS on Salary ? - taxable income.. CiteFin
CiteFin
 
HOME ANSWERED NEW ABOUT LOGIN
Home > Financial Planning and Forecasting > Tax

TDS on Salary ?

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%
150000-250000 10%
250000-500000 20%
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.

Regards,

Manoj Nair:-)

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.....

you can check latest updates for procedure tds on salary Procedure for Tax Deduction (TDS) on Salary | Tax India

SUNIL9871 - Contributing Member
Quote:
Originally Posted by bhawanadhawan View Post
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.....
No, Tds Is Deducted Above Of 180000.00 & Ur Salary Is 144000.00 So Not Required To Deduct.

No. You need not to file because your income is below 150000. You can calculate your income tax at https://www.payit.in

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

Interesting Relevant Discussions


DISCUSSSION STATISTICS


3848
VIEWS

5
REPLIES

PLEASE KEEP YOUR CONDUCT PROFESSIONAL AND POLITE


3M Users, 100K+ Documents & 450K+ Discussions

Share »

Community Support & Professional Insights. Login or Register.
Email/Username     Password  

About Us - Advertise - Contact Us - RSS   On Google+  
All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network