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TDS on Salary ?
Employees in our organisation from July 2010 CTC is Rs.30,000/- P.M. How to calculate how much TDS to be deducted per month and what % considering the expenses shown by them.
Is their parents medical expenses can be climed?

From India , Bangalore
Hi, Kindly provide me the breakup of the gross salary per month for complete calculations. I mean the Basic Salary, HRA, Allowances (if any), Savings etc.
From India , Chandigarh
We do not have breakups, can you plse send a excel sheet for the break up and how to calculate the tax on salary.
From India , Bangalore
Hi Npavit,
If the salary per month is Rs 30,000 both gross and basic are same,and no allowance is given then; TDS for males will be calculated as follows:
Rs 30,000*9= Rs 2,70,000 (as salary given will be from July, 2010 to March 2011)
Now, coming in TAX Slab
upto Rs 1,60,000------ NIL tax
Rs 2,70,000 less Rs 1,60,000= 1,10,000----- 1,10,000*10%= Rs 11,000+ 3% edu. cess=Rs 11,330 total tax till 31st March, 2011.
Rs 11,330 divided by 9 (no. of months salary given)= Rs 1,258 TDS per month has to be deducted.
Also make sure that the TDS is deducted from employees salary in respective months. If not deducted, adjust the Amount again by dividing the Tax with the no. of months left in a year.
Do let me know if this Information is useful for you.

From India , Chandigarh
Thank you for the reply. This was realy useful. Can you plse give the excel sheet for the breakup for the salaries.
Basic - 40% - On Salary
DA - 10% - On Basic
HRA - 40% - On Basic
Is this correct and others how to add. Please send a sample excel sheet or a salary slip

From India , Bangalore
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