Tds on salary

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This query is : Resolved

manek sharma (Querist)

20 June 2013 Sir,

Recently i joined a company in June'13. my monthly salary breakup is:
Basic: Rs. 16,000
HRA: Rs. 8,000
Special Allowance : Rs. 29,100.
so, Total Gross Salary is Rs.. 53,100.

PF is optional in my company. so, i choose not to deduct PF. only meals expenses deduct from my salary amounted to rs.100 per month.which provide net income amounted to Rs. 53,000

now, company is asking for investment declaration for f/y 13-14. presently i have a PPF a/c and i will submit Rs.100,000 in that for f/y 13-14.

kindly provide me the calculation of TDS, that how much amount will be deducted from my salary per month.

Thanks

CA.Vinita Gupta

CA.Vinita Gupta (Expert)

20 June 2013 Do you live in a Rented House?
Any Mediclaims?

What is your Rent Paid per month, In which city do you reside?

manek sharma

manek sharma (Querist)

20 June 2013 Yes Mam, i am living in a rented house @Rs.10,000 per month. Having my LIC amounted to Rs. 14,400 p.a and Mediclaims amounted to Rs.12,000 p.a

and apart from this planning to deposited Rs.100,000 in PPF during f/y 13-14

CMA RV Padmakumar.A

CMA RV Padmakumar.A (Expert)

20 June 2013

HRA Exempted u/s 10(13A)

Least of the following

1.Amount of HRA
2.Excess rent paid over 10% of Salary(Basic + DA)
3.50% in metros or 40% in other cities

CA.Vinita Gupta

CA.Vinita Gupta (Expert)

22 June 2013 Approximately 1700/- per month

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