How tds is calculated

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31 Points Posted on 24 June 2020
no. of duductee | party records is 3

Amount paid is 141480

Tax deducted is 7130


detail as per form 27a


my question is how tax deducted is 7130
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On 24 June 2020 at 13:57 Report
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This discussion clarifies how Tax Deducted at Source (TDS) is calculated. It explains that TDS rates depend on the nature of the payment and that Form 27A summarises TDS returns. For salary payments, TDS is typically calculated based on an average monthly rate derived from the annual tax liability.

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1644 Points Posted on 24 June 2020
TDS rates are based in the nature of payment... 27A is the summary of TDS returns filled...
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On 24 June 2020 at 14:47
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31 Points Posted on 24 June 2020
Salary payment
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On 24 June 2020 at 14:51
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1644 Points Posted on 24 June 2020
In case of salary, TDS is calculated based on Avg rate... Example if for a year your tax liability amount is 12,000, TDS calculate based on 12,000/12= 1000.
Rs.1000 will deduct from your salary every month.
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On 24 June 2020 at 15:00

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