Calcualtion of tds on salaries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2017
since the TDS arrived at is divided by 12 and the resultant figure is deducted monthly from salary of employee, but if the employee takes leave in any month, will the TDS figure change. if so how is this calculated. please anyone reply asap. Thank so much
ABHISHEK GARG
(Expert)
17 August 2017
If salary of the Employee Changes on availing leave, then Tax Liability also Changes.
Tax Liability is Calculated on monthly basis.
Like,
in April, Calculate estimated salary for 11 Months & Actual for April, then Calculated tax liability & Divide by 12
In May, Calculate estimated salary for 10 Months & Actual for April & may, then Calculate tax Liability & divide by 12
and So on.....
Adjust the excess/short tax liability in March.
Tax Liability is Calculated on monthly basis.
Like,
in April, Calculate estimated salary for 11 Months & Actual for April, then Calculated tax liability & Divide by 12
In May, Calculate estimated salary for 10 Months & Actual for April & may, then Calculate tax Liability & divide by 12
and So on.....
Adjust the excess/short tax liability in March.
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