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Ram Prasad (Querist)

01 December 2011 hi dear, i have problem with deducting tds from salary. 1-is tds deduct on gross salary/basic salary ? 2- if salary is inr16000/-p.m. Then applicable deducting tds or not. If applicable then how? Give reply with adjustment.plz......
REGARDS
RAMPRASAD

Aijaz Shaikh

Aijaz Shaikh (Expert)

01 December 2011 Calculate taxable salary as per the provisions of income tax act, apply the tax rate and deduct tds.

Salary per year 16000*12=192000

For men basic exemption limit=180000.

Taxable Salary=12000.

Tax @ 10.3%=Rs. 1236 per year i.e. Rs. 103 per month.

Ram Prasad

Ram Prasad (Querist)

02 December 2011 Dear,aijaz shaikh

Thanks to you. but plz.read again my query and resolved it...i think

Salary per year 16,000*12=192,000

and it is applicable for tds.and one query also i have mentioned there about tds deduction on basic salary or gross salary... be positive.i am waiting for your response

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