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Tds on salary

Ritu Bangari (B.Com) (35 Points)

15 April 2014

Hey,
Good Morning,

Please tell me how to calculate TDS on Salary E.g. If Taxable Income is Rs. 638000 of 1 year. Please give me the exact amount which will be deduct on Salary.

I m Confused in this matter.

Thanks in Advance. :)

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3 Replies

Devaki Reddy (Article assistant) (80 Points)
Replied 15 April 2014

Taxable Income - 6,38,000 (Assumption: Don't considering deductions)

Then tax on it - 59,328

% of TDS Deducted - 59328/ 638000= 9.29 % ( approx )

So, deduct 9.29 % on every month of salary

For Example : Mr. A earns 50,000 PM and totally 6,00,000 P.a.,

* there after allowing deductions it is 5,00,000.

* Then tax on 5,00,000 is 28,840.

* % = 28,840 / 6,00,000= 4.8 %

* Deduct 4.8 % on 50,000 =2,400

2 Like

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 15 April 2014

Agree with Ms. Devaki..

You may also refer: /articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp

Thanks!

veeru sagar (BBE,M.com,CA Final ) (468 Points)
Replied 15 April 2014

Dear rittu

As per above given information by you

Total salary income 638000

Assumed deduction U/s 100000

(80C / 80G /)

Net Taxable Income 538000

(A)Tax on 538000 37600

(B)Edu Cess @ 3% 1128

(C)Total (A+B) 38728

TDS Per Month (C/12) 3228

TDS amount 3228 should be deduct from salary per as a tds and net amount Paid , in your Query i have taken my assumtion deduction of assessee under Sec 80C, 80G , 80GG or other is 100000,

you may also calculate without deduction