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Hi how to save tax.
Basic - 171360PA
HRA- 85680PA
Total Income:312640PA
TAX 11264
Add: Surcharge and cess there on:338
My policy Details.
Lic -1000 PM
Lic 408PM
Tata Aig - 1000PM
TataAIG - 400 PM
Tata Aig - 300PM
Mutal fund Reli Gold -1000PM
Mutual fund HDFC Gold -1000 PM

From India , Madras
Basic - 171360PA
HRA- 85680PA
Total Income:312640PA .
Calculation is wrong...and please tell what is your assessment year. So that I can help you. And if you want to read good article on how to save tax then read the following links. The following lins about a.y. 2012-13 and a.y. 2013-14 tax planning..dont read other article by searching on google. All articles are old and for previous years. Recommended links
15 Tax Planning Tips for A.Y. 2012-13
Tax Planning - How to save tax in FY 2012-13 (AY: 2013-14)

From India , Delhi
Tax Deducted at Source or TDS is a type of tax that is deducted from an individual’s income on a periodical or occasional basis. TDS can be applicable for income that are regular as well as irregular in nature. Income Tax Act, 1961 regulates TDS in India through Central Board of Direct taxes (CBDT) under the Indian Revenue Services (IRS). TDS rule directs the payee or employer to deduct a certain amount of tax before making full payment to the receiver. TDS is applicable for salary, commission, professional fees, interest, rent, etc.
TDS Calculation
Payments such as salaries, interest payment, commission, fees to lawyers and freelancers etc. are subject to TDS. For salaries, the percentage of TDS will be based on income slabs rates. Similarly, each type of income has its own percentage of tax that is calculated . Since TDS is collected at source without the calculation of investment that is eligible for tax deductions, hence, an individual can declare and submit his investment proof in order to file a return and claim for the TDS refund.
TDS Deduction
If an individual has paid excess TDS when compared to the liable tax amount, the deducted or payee can file a claim for a refund of the excess amount. The TDS deductions are calculated based on various factors for individuals from different types of income categories.
How TDS Calculated?
Income and expenditure such as salary, lotteries, interests from banks, payment of commissions, rent payment, payments to freelancers, etc. fall under the ambit of TDS. When making payments under these segments, a percentage of the overall payment is withheld by the source that is making the payments. This source, which can be a person or an organization, is known as the Deductor. The person whose payment is getting deducted is called the Deductee. For instance, a deductor is the employer paying salary to an employee (the deductee).
TDS Return
An individual is required to file TDS return in order to receive TDS refunds and to maintain a healthy financial record.
The individual will need to sign onto the website by using the existing credential or by registering for the services. There are specific deadlines that an individual will require to follow to ensure the TDS returns are filed within the due time. Depending on the income category, the individual will need to fill up the necessary form and provide required documents for the refund process to begin. Once the individual has registered and submitted the return, he/she will need to validate the TDS Return File. The validation can be done by using the free software provided by the Income Tax Department. If you are wondering about the possibilities of receiving a refund for the excess TDS paid, you will need to file the claim through TDS return to receive a refund for the excess amount.

From India,
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