TDS on salary

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This query is : Resolved

M. R. VAKALIYA (Querist)

24 July 2009 Dear All,

(1) X employees joins in April-09 his salary is Basic=25000 HRA 5000 total=30000.
He declares investment of 75000 and again in July he declares investment of 45000. Can any one tell me TDS during the year WITH FIGURE Pls

(2) What is tax loss or liabilities if company pays total 30000 or give in breakup like basic 25000 and hra 5000. Why some companies are paying total amount instead of giving break up..
Awaiting reply.

Prakash Kanaka M.P.

Prakash Kanaka M.P. (Expert)

25 July 2009 Financial Year 2008-09
Assessment year 2009-10
Monthly salary 30,000

Particulars Gross Exemp Taxable
Basic salary 3,00,000 0 3,00,000
HRA** 60,000 42,000 18,000
Total 3,18,000
Less: Ded u/s 80c
75+45 ( Max 1.00 Lacs0 1,00,000
Taxable amount 2,18,000
Tax for FY 08-09 7,004

**Least is exempted
1)HRA Recieve 60,000
2)RENT PAID(Assumed)(6000*12) 72,000
LESS : 10% OF B.SALARY 30,000
Net 42,000
3)40% OF BASIC SALARY 1,20,000

2nd Case= Rs. 30,000 PM consolidated salary.

Gross amount 3,60,000
Less: ded u/s 80C 1,00,000
Taxable amount 2,60,000
Tax 11,330

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