Tds
This query is : Resolved
Parvat singh shekhawat
(Querist)
05 November 2012
Give me example of TDS calculation on salary of 240000
05 November 2012
HI
It is assumed that Rs.2.40 lacs gross taxable income after deduction u/s-10.
From Rs.240000 deduct deduction u/s 80D & 80C.
From Balance give standard deduction of Rs. 200000.
So net amount is Taxable. Say in current case Its Rs. 40,000/-
Tax Payable @ 10% & 3% Cess Rs. 4000 & Rs.120.
Total Tax is Rs.4120/- that you have to deduct per month. Say from April so per month tax comes to Rs.343
Rgds//Vaibhav
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It is assumed that Rs.2.40 lacs gross taxable income after deduction u/s-10.
From Rs.240000 deduct deduction u/s 80D & 80C.
From Balance give standard deduction of Rs. 200000.
So net amount is Taxable. Say in current case Its Rs. 40,000/-
Tax Payable @ 10% & 3% Cess Rs. 4000 & Rs.120.
Total Tax is Rs.4120/- that you have to deduct per month. Say from April so per month tax comes to Rs.343
Rgds//Vaibhav
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