Salary tds calulation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2015 hi,

if the company deduct 10% as a retention amount in gross salary whole year and paid only 6 month retention in this year and rest 6 month retention pay in next year .
so how to calculate tds on salary.
exp: gross salary 40K
10% retention 4 k
net payble salary 36 K

we are calculate tds which amount .
please me best answer .
thank you.

Guest

Guest (Expert)

29 May 2015 TDS is deducted on payment basis as per section 192.. So TDS is deducted on 36K...

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2015 so we are calculate tds on 36k . not 40 k
it right.

Guest

Guest (Expert)

29 May 2015 Yes u have to deduct TDS on 36K..

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2015 ok thanks ,
i have a query if the company deduct retention Oct to September .
suppose company deduct retention oct 2014 to sep-2015 .
and com paid retention amount in oct 2015.
so we can show retention amount in oct salary .
and we can ad retention amount in oct salary payment .

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2015 please rachit ji giveng the answer .

Guest

Guest (Expert)

29 May 2015 Show retention amount in the month of payment.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2015

thank you rachit