Salary break up and tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
Hi,
If person having salary 65000/-monthly how to make break of that and at how much amount tds has to deduct?
Company is Pvt. Ltd. but no pf
If person having salary 65000/-monthly how to make break of that and at how much amount tds has to deduct?
Company is Pvt. Ltd. but no pf
29 May 2012
Basic
HRA
Conveyance Allowance
You can also break up into reimbursement portions, such as telephone reimbursement, petrol reimbursement, etc.
TDS will be calculated as under:
1. Compute the annual taxable income of the employee.
2. On this income, compute tax liability as per slab rates.
3. This tax liability will be deducted on a monthly basis.
HRA
Conveyance Allowance
You can also break up into reimbursement portions, such as telephone reimbursement, petrol reimbursement, etc.
TDS will be calculated as under:
1. Compute the annual taxable income of the employee.
2. On this income, compute tax liability as per slab rates.
3. This tax liability will be deducted on a monthly basis.
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