How to calculate tds on monthly salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2012
How to calculate TDS on Monthly salary for example
monthly salary RS:-28000/-
month april only
now please suggeste me how can i calculate TDS amount with formula
monthly salary RS:-28000/-
month april only
now please suggeste me how can i calculate TDS amount with formula
26 June 2012
1. Calculate annual taxable income of the employee.
2. Calculate tax on this income on the basis of slab rate.
3. This tax shall be deducted from the salary on proportionate basis every month.
2. Calculate tax on this income on the basis of slab rate.
3. This tax shall be deducted from the salary on proportionate basis every month.
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2012
Siddhartha thanks for your quick response
but can you give me an example please.
but can you give me an example please.
27 June 2012
For example taxable salary per month is Rs. 30,000
Annual Taxable Income = Rs. 3.6 lakhs
Tax thereon (including cess) = 16,480
Monthly deduction = Rs. 1,373 (16,480/12)
Annual Taxable Income = Rs. 3.6 lakhs
Tax thereon (including cess) = 16,480
Monthly deduction = Rs. 1,373 (16,480/12)
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