Tds
This query is : Resolved
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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