Income tax on salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 April 2013
one person in my firm received consolidate salary is Rs. 35000/- per month. I am not deducting the tax in the fy 2012-13 now i want to deducted tds on that salary. Now my question is that how much tax has been deducted
Gender Male, below 60 years, Gross salary Rs. 420000/- per year including traveling allowance Rs. 9600, he also given me Rs. 15000 medical bill, Rs. 20000 lic premium
Gender Male, below 60 years, Gross salary Rs. 420000/- per year including traveling allowance Rs. 9600, he also given me Rs. 15000 medical bill, Rs. 20000 lic premium
CA Himanshu Kansal
(Expert)
04 April 2013
His taxable salary will be Rs. 420000-9600-15000=395400 Plus other income like interest from saving bank account etc.
Less: deduction u/s 80C Rs. 20000.
taxable income Rs. 395400-20000= 375400.
Tax on such income = 17590
therefore monthly TDS will be Rs. 1466.
Less: deduction u/s 80C Rs. 20000.
taxable income Rs. 395400-20000= 375400.
Tax on such income = 17590
therefore monthly TDS will be Rs. 1466.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
