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How much tds for 36 lakhs per year director salary ?

TDS / TCS 1258 views 5 replies

Christine Diaz

142 Points Posted on 25 May 2021

Director salary will be 36 lakhs per year. But will vary month wise. If this month, salary was 10000, how much tds to pay to IT ?

Next month , salary might be 3 lakhs.

Per year, salary will be 36lakhs .

Thanks everyone :)

Replies (5)

You calculate approximate Income tax on 36 lac , and then divide that Tax by 12(months)
whatever amount same will be TDS for every month , if Excess paid you will get refund after of filling return and assessment .

Sravan Reddy G

618 Points Posted on 25 May 2021

If you treat director as professional then straightforward 7.5% on every time payment

if you employed him as employee then calculate according to 192B

Sivaramaraju G

Learner

2398 Points Posted on 25 May 2021

It will be calculated as per applicable slab rates.

If total salary payable in a year is 36L

and this month you pay salary 10K you have to deduct 2,535

if you pay salary 3L TDS will be 76,050

Note: TDS has been calculated as per old tax regime.

if we go with new tax regime your TDS will be

for 10K - 2,318

for 3L - 69,540

prasad Nilugal

3924 Points Posted on 25 May 2021

After calculation of TDS per month , you can calculate TDS proportionally to salary .

veerendar singh

tax consultant

3306 Points Posted on 25 May 2021

Firstly you have to draft a estimated total income computation of the director. you have to consider other sources of income and investments.
then calculate tax on net income.