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Tds on salary

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 September 2012
Dear Experts,

Please calculate TDS on salary for the FY 2012-13, SAlary Details as follows-

Yearly Salary 336000/-
LIP Paid 22982/-
Intt. on Housing Loan paid 111922/-
Housing loan principle amount paid 15105/-

Please give me calculation of TDS urgently.

Thakns.
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srinath

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srinath (Expert)
03 September 2012 Deduct the interest on housing loan from salary

Then deduct the housing principle and LIC paid from the salary

After the above said deductions your salary would be less then basic exemption. So there would not be any TDS liability.
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 September 2012 on which section intt. on housing loan is deductible.
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swasti

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swasti (Expert)
03 September 2012 Intt. on Housing Loan is deductible u/s 24 of IT Act 1961.
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