ur net salary is
salary 50000*12 600000
Cnveynce exempt 800*12 9600
so ur net salary is 590400
now calculate tax 1,80,000 to 5,00,000 10% and after that 20%
so ur tax is 32000+18080
total 50,080 and education cess is 3% which is 1502
so ur tax is 51,582 now u divide it from 12 months it is now 4299
so ur TDS from Salary is 4298 or 4300 per month which is deducted by employer every month
From India , Delhi
Greetings for the Day !!!
I would like to know that what will be a Monthly Tax Deduction of an Employee withdrawing Gross Salary of Rs.42,000 per month post deductions.
His TDS Declarations are as follows:
1. Monthly Rent Rs.15,000
2. LIC Premium Paid Rs.50,000
3. 2 Policies of Rs.25,000 each i.e. Rs.50,000
Request you all to provide an approx / accurate figure of TDS monthly.
As I need to advice the same to my employee.
Thanks and Regards,
From India , Bangalore
PF Contribution isn't Payable on CTC as per CPFC Notification
From India, Faridabad