TDS Deductible Amount
This query is : Resolved
03 June 2011
Dear Sir / Madam,
My MD Sir Salary is Es. 67050/- on that much of amount Rs. 7000/- is deducting as TDS per a month.
If the Salary is Rs. 86550/- how much the amount to be deducted as TDS per a month.
Could you send me the message to my email ID Plz.
satheesh.safal@gmail.com
My MD Sir Salary is Es. 67050/- on that much of amount Rs. 7000/- is deducting as TDS per a month.
If the Salary is Rs. 86550/- how much the amount to be deducted as TDS per a month.
Could you send me the message to my email ID Plz.
satheesh.safal@gmail.com
03 June 2011
You need to calculate the annual income tax on his salary as per the applicable individual slab rate & then divide the total tax by 12. this amount need to be deducted each month.
For telling the exact TDS amount, you need to provide other details... like salary structure, Investment declaration .. then only monthly TDS can be calculated.
For telling the exact TDS amount, you need to provide other details... like salary structure, Investment declaration .. then only monthly TDS can be calculated.
Message likes :
1 times
03 June 2011
Dear Sir,
I am giving you the Salary Break up
Basic HRA Medical CA Total
50,000 15,000 1250 800 67,050
For 12 Months --- Rs. 8,04,600/-
Less: Profess.Tax Rs. 2,400/-
----------
8,02,200
Hosing Loan Interest 1,27,932
----------
Gross Total Income 6,74,268
Less: Donations 50,000
Basic Exemption 1,60,000
---------
Taxable Income 4,64,268
---------
Sir, Plz give me what ate the Taxable percentages for total of Rs. 4,64,268/-(If)
And how much the tax is to payable for the above.
Plz solve my small problem.
I am giving you the Salary Break up
Basic HRA Medical CA Total
50,000 15,000 1250 800 67,050
For 12 Months --- Rs. 8,04,600/-
Less: Profess.Tax Rs. 2,400/-
----------
8,02,200
Hosing Loan Interest 1,27,932
----------
Gross Total Income 6,74,268
Less: Donations 50,000
Basic Exemption 1,60,000
---------
Taxable Income 4,64,268
---------
Sir, Plz give me what ate the Taxable percentages for total of Rs. 4,64,268/-(If)
And how much the tax is to payable for the above.
Plz solve my small problem.
03 June 2011
Dear Satheesh,
first of all I assume the following
1.you want to calculate TDS for FY 11-12.
2.Total HRA of 15000/- is exempt.
3.Medical 1250/- is actually reimbursement
4.Your MD has NIL amount claimable under section 80C/80CC/80CCC.
In this case, basic exemption is 180000/-.
Deduction for 80G (donation) is not to be allowed, while calculating TDS on salary, however, your MD can claim the same in his ITR.
Rounded off taxable income is : 469670/-
TDS per Month is : 2490/- (April,11 to Feb,12)
TDS for March,12 : 2446/-
first of all I assume the following
1.you want to calculate TDS for FY 11-12.
2.Total HRA of 15000/- is exempt.
3.Medical 1250/- is actually reimbursement
4.Your MD has NIL amount claimable under section 80C/80CC/80CCC.
In this case, basic exemption is 180000/-.
Deduction for 80G (donation) is not to be allowed, while calculating TDS on salary, however, your MD can claim the same in his ITR.
Rounded off taxable income is : 469670/-
TDS per Month is : 2490/- (April,11 to Feb,12)
TDS for March,12 : 2446/-
06 June 2011
for 12 months salary is Rs. 8,04,600/-
Interest on Housing LoanRs. 1,27,932/-
Then salary Taxable Rs. ?
Deduction chapter VI A Rs. 1,00,000/-
Total Income Rs. 7,04,600/-
Tax payable amount ?
Tds Deductible for a month ?
I have calculated as per your previous reply. But my answer is wrong.
Can you plz.
Interest on Housing LoanRs. 1,27,932/-
Then salary Taxable Rs. ?
Deduction chapter VI A Rs. 1,00,000/-
Total Income Rs. 7,04,600/-
Tax payable amount ?
Tds Deductible for a month ?
I have calculated as per your previous reply. But my answer is wrong.
Can you plz.
08 June 2011
How to entry in the name of a person.
salary entry, travelentry, it's advances. EPF, ESIC, TDS, Sales bill, Purchase every thing has to come under which ledgers we use for a person.
And simply I will go to ledger and enter the person name. Every transaction for a person, Which entries we have passed has to come in the person ledger.
salary entry, travelentry, it's advances. EPF, ESIC, TDS, Sales bill, Purchase every thing has to come under which ledgers we use for a person.
And simply I will go to ledger and enter the person name. Every transaction for a person, Which entries we have passed has to come in the person ledger.
12 June 2011
Dear Sir,
If we have not paid the EPF for March 2011.
How much percentage is?
For one month
Two months
Three months
If we have not paid the EPF for March 2011.
How much percentage is?
For one month
Two months
Three months
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
- STCG....................................................
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- STCG FOR GOLD ETFs
- Specified Profession
- Suggestions required for income tax filing-software (FY 2025-26)
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
