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
firstname.lastname@example.orgCalculate the tax liability and then divide it from number of months. that amount will be ur TDS deduction per month.
From India , Sonipat
email@example.comHi sir, This is teja. I m in working in software company accountant. please send me TDS On salary Formate in AP Regards, Teja
From India , Visakhapatnam
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
RAMAKANT RDear Abhinav Mitra, To get the benefit of House Rent Allowance you should specify the House Rent Allowance payable per month. Ramakant.
From India, Pune
ABHISHEK KR.M attaching the Salary Computation & TDS Calculation for AY 2014-15. Regards.
From India, Gurgaon
Payroll InsightsCPFC 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
From India, Faridabad
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