In a Pvt Ltd company with 2 directors when the monthly salary amount of all the employees is variable , ie their salary amounts keeps fluctuating every month (there is no PF or ESI) , then how should I compute the TDS ? Salary of May'23 will be released shortly . I need advise as to how to compute the TDS amount on the salary. For eg if one employee's salary for May is Rs 50k and another's is Rs 30k what should be the approx TDS ? As I have already mentioned, these figures are most likely to vary every month. .
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How to deduct TDS on variable salary amt of an employee ?
Replies (3)
Quick Summary
Calculate total salary then deduct their savings like lic, children's school ( tuition ) fees , housing loan, housing loan interest ,p.f., p.t. & if any deposits in NSC,PPF,Sukanya etc. after all deduction , calculate as per tax slab rate .
Consider each employee differently, take his/her estimated average salary and based on it deduct TDS. The final adjustment can be done every quarter or in March end.
Please upload salary details.
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