tds on salary
This query is : Resolved
CA Aditya Goel
(Querist)
06 April 2009
what is the procedure of calculating tds on salary. what is the minimum limit of salry above which tds is deducted. what is the maximum limit of salary on which tds shall not be duducted.??
CA. B.SRINIVASULU
(Expert)
06 April 2009
Calculate the salary income for full finacial year conidering propable bonus also. Then get from him what would be his plan for investments and calculate hra deductions, conveance dedctions, propable medical and child education allowances deductions.
Then arrive at the taxable income. A
Apply the tax rates.
Estimated tax divide by 12.
That is the deduction per month.
Then arrive at the taxable income. A
Apply the tax rates.
Estimated tax divide by 12.
That is the deduction per month.
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