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 :)
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How much tds for 36 lakhs per year director salary ?
Replies (5)
Quick Summary
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 .
whatever amount same will be TDS for every month , if Excess paid you will get refund after of filling return and assessment .
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
if you employed him as employee then calculate according to 192B
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
After calculation of TDS per month , you can calculate TDS proportionally to salary .
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.
then calculate tax on net income.
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