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.
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