Tds on salaries

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2012 Dear Expert
How to compute tds on salary when salaries is variable In month. Example

Month Salaries

Apr 12 32410 TDS deduct on apr
May 12 38450 TDS deduct on May
June 12 35400 TDS deduct on June
July 12 39540 TDS deduct on July
Aug 12 38304 TDS deduct on Aug
Sep 12 38457 TDS deduct on Sep
Oct 12 39654 TDS deduct on Oct
Nov 12 42301 TDS deduct on Nov
Dec 12 18104 TDS deduct on Dec
Jan 13 29540 TDS deduct on jan
Feb 13 31000 TDS deduct on feb
Mar 13 16050 TDS deduct on May

On 25 Mar invest 15000/- U/s 80C.
Please suggest me any free software/File.
Please solve my query

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 April 2012 As per the section 192 TDS would be deduct on gross salary at the estimated basis on average rate through out the year if any insufficient TDS or short TDS made then total difference TDS would be deduct in the last month of the year. So for your case total Taxable Salary on estimation basis for the F.Y.2012-13 is Rs.3,84,210 after deductions under section 80C. The basic exemption limit is Rs.2 lacs and above 2 lacs upto 5 lacs tax @10.3% including cess. So However your taxable salary income is in only one slab i.e first slab is 10.3% including cess. So no question of average rate because average rate is also 10.3%. So deduct every month @10.30% on the gross salary paid or payable. if any changes in the estimation of income then the difference tax would be deduct in the last month of the year i.e in the month of March.
OM SAI SRI SAI JAI JAI SAI

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