TDS On Salary

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This query is : Resolved

Chandru (Querist)

26 November 2010 Dear Sir/madam

How I will deduct the TDS On Employee Salary.

Examples :

A's salary Rs. 200000/- Tax - 10% on 40000/-
Tax- Rs. 4000/-

or
10.3% Rs. 4120/-
and
when i make the payment, i need to mention
1.Tax Amount
2. Education Cess
3. Hight Edcation Cess, separtelly.
or
I can mention total 4120 in Tax colum

Pls guide me

regards
Chandru

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)

26 November 2010 As far as Tax on salary is concerend Tax shall be applicable on Slab rate of tax applicable for the individuals. Cess @3 % shall also be taken in to consideration along with the tax

Son conclusion in the above case 10.3 % or 20.6 % or 30.9 % As the case may be and a surcharge @10 % shall be applicable in case where the income exceeds Rs 10 Lakh.

CA Durga Prasad Sigatapu

CA Durga Prasad Sigatapu (Expert)

26 November 2010 Hi Chandru,

You need to mention

1. Tax Amount 4000
2. Education Cess 80
3. Hight Edcation Cess 40

Thank you
durga

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