TDS

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Ram Sakal Mahto (Querist)
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30 April 2010 Sir,

Please Guide me on Following

I am going to deduct TDS form salary of Employee.

Details Amount(Rs.) Exempt
Basic Salary 13,000 NA
House Rent Allowance 6,000 5200
Transport Allowance 1,000 800
Gross Salary 20000 6000

TDS:
Salary(P.M.) After exemtion 14000 Slab Amount Tax
No. of Months 12 UPTO 160,000 NIL
Annual Salary 168000 Rs>1.6 Lac and 5 Lac
Monthly TDS to be Deducted 67

Least of Following Exempt:
1. Actual Receipt Rs. 6000 Rent Paid 7200
2. Rent Paid -10% of (Salary+DA) Rs.5900 10% of Salary 1300
,= 7200-[10%*13000] 5900
3. 40% of Salary+DA =Rs. 5200
noida
Please confirmed us that above TDS is correct or not

Thanks
Ram

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 April 2010 your tds amount is correct

Ram Sakal Mahto

Ram Sakal Mahto (Querist)
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30 April 2010 thank you sir

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