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Sir, i want to know that is TDS deduction in Gross Salary? for Example:- If Basic Salary =50000 Mobile Allow. =1000 Conv. Allow. =1000 Means Gross Salary is 52000/-
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
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
Calculate the tax liability and then divide it from number of months. that amount will be ur TDS deduction per month.
Hi sir, This is teja. I m in working in software company accountant. please send me TDS On salary Formate in AP Regards, Teja
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
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
Dear Abhinav Mitra, To get the benefit of House Rent Allowance you should specify the House Rent Allowance payable per month. Ramakant.
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/
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
PF Contribution isn't Payable on CTC as per CPFC Notification
Regards,
Arti
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Listed Under tds deduction Country-India tds calculation tds calculations net salary tax liability tds on salary house rent allowance house rent basic salary tax deduction City-India-Chandigarh
TDS Chart-1.xls
