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girish,
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
Regards,
Renu Aggarwal
19th November 2011 From India , Delhi
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
Regards,
Renu Aggarwal
19th November 2011 From India , Delhi
Dear Renu,
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,
Abhinav Chandra
12th November 2012 From India , Bangalore
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,
Abhinav Chandra
12th November 2012 From India , Bangalore
RAMAKANT R 
13
13
Dear Abhinav Mitra, To get the benefit of House Rent Allowance you should specify the House Rent Allowance payable per month. Ramakant.
14th May 2013 From India, Pune
14th May 2013 From India, Pune
Payroll software is used for eTDS calculation. All forms like form16, form12 etc can be generated from the software itself. for more information visit http://www.payrollinsights.com/
11th December 2013 From India, Faridabad
11th December 2013 From India, Faridabad
Hi,
You can use a salary calculator website;
Income Tax Calculator: 2013/2014 Salary Calculator - Money Saving Expert
Finance Dissertations | Accounting | Finance Management | Sample Dissertations
Hope this helps
11th March 2014 From United Kingdom, Cannock
You can use a salary calculator website;
Income Tax Calculator: 2013/2014 Salary Calculator - Money Saving Expert
Finance Dissertations | Accounting | Finance Management | Sample Dissertations
Hope this helps
11th March 2014 From United Kingdom, Cannock
CPFC Notification - Employer PF contribution under section 6 is payable only on basic wages (which excludes HRA, Overtime Allowance, Bonus, Commission etc.), dearness allowance (which includes cash value of any food concession) and retaining allowance, if any.
PF Contribution isn't Payable on CTC as per CPFC Notification
Regards,
Arti
7th April 2014 From India, Faridabad
PF Contribution isn't Payable on CTC as per CPFC Notification
Regards,
Arti
7th April 2014 From India, Faridabad
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