TDS on salary income
This query is : Resolved
19 May 2011
Basic salary 12600.00 , HRA 2000.00 , Conveyance 3600.00. (Gross Salary Rs 18200.00.)
Net pay (18200.00 - PF 1512.00 - ESI 319.00)
= Rs 16369.00.
Interest from Bank fixed deposite Rs 12000.00
Please inform me the TDS Amount for 2010-11
Net pay (18200.00 - PF 1512.00 - ESI 319.00)
= Rs 16369.00.
Interest from Bank fixed deposite Rs 12000.00
Please inform me the TDS Amount for 2010-11
CA PARAS BAFNA
(Expert)
19 May 2011
Ramen Bhai,
1. If you are paying Rent, and have rent receipt , please mention. Otherwise HRA will be taxable.
2. Conveyance is meant for Home to Office and Office to Home or it is paid for performing official duty.
If it is paid for Office purpose than you can also claim the amount spent out of it
If Nothing is to be claimed - then
Salary Income = 208800
(12600+2000+2800)*12= 208800
Interest Income =12000
Gross Total Income = 220800
Deduction 80C = 18144
Total Income = 202656
TDS = 4400/ Approx.
1. If you are paying Rent, and have rent receipt , please mention. Otherwise HRA will be taxable.
2. Conveyance is meant for Home to Office and Office to Home or it is paid for performing official duty.
If it is paid for Office purpose than you can also claim the amount spent out of it
If Nothing is to be claimed - then
Salary Income = 208800
(12600+2000+2800)*12= 208800
Interest Income =12000
Gross Total Income = 220800
Deduction 80C = 18144
Total Income = 202656
TDS = 4400/ Approx.
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