27 May 2013
Hi, One of the employee worked in the co for April and May as consultant and we deducted 10 % (60000 @10%) Rs. 6000 and from june onwards he will be working as regular employee. So now june to march his taxable income is Rs 4 lac and we need to deduct income tax on his salary. please guide me
29 May 2013
Calculate income tax as per normal rules. E.g. Basic exemption of INR 200,000 and consider provident fund and detail of investment, if declared by the employee.
29 May 2013
thanks, I think i need to add current year salary 4 lac and april & may 2013 consultancy chages Rs. 60000 as total income and i need to consider Rs. 6000 TDS (194J) already deducted also while calculating TDS on salary. Am i correct. please suggest
CAclubindia
