Computation of tds from salary

Please find the enclosed attachment for your solution.

Regards

Sunil Kumar

CA FInal, B.com(H)

ca_lakshay @ yahoo.co.in

Basic 14000

HRA  7000

LTA 2800

Medical 1250

Transportation 800

Internet Allowance 800

Telephone Calls Allowance 500

Professional Enrichment Allowance 450

Special Performance Monthly 2400

total salary is 30000/- p/m

please send me the tds computation for above salary detail of an employee of a month.

Here your answer click the excel file attached

Per month TDS

form november 2011 salary onwards ( 5 months ) = 4960

if female the tds will be Rs. 4343/-

if senior citizen Rs.3312/-

but mr. prashant the slab you have shown for deducting TDS is 160000 to 300000 =10% and above 300000 to 500000 =20% and above 500000 is 30% and this slab is for A.Y 2010-2011 but in A.Y 2012-2013 it is 180000 to 500000=10% , 500000 to 800000 =20% and above 800000 is 30%

and one more thing i would like  to ask all of you so HRA,Medical,LTA,Telephone Call Allowance and Special Performance monthly is fully taxable or i can take exemption from them , suppose if i pay 4000 rent p/m then could i take exemption or not tell me in detail.....or solve my query please?????????

could anyone please solve my query

TDS RATE for f.y 11-12 ..........?/

Hi Amit

Total salary is 360000

HRA Ded.  least of following that is 31200 , is exempted

1-40% of 168000=67200

2-Actual HRA recd 84000

3- rent paid over 10 % salary ( 48000-16800)=31200

Medical Allownace - supported by bill upto 15000

Conveyance Allow- 9600

Salary 360000

less- HRA 31200+15000+9600=55800

taxable salary  304200

tax on above 12420 ( At normal rate )

monthlu TDS 12420/12=1035 

Pl comment