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Quarterly division of tax amount
what is the formula of quarterly division of tax amount? If an employee has to pay 20000 rupees in a financial year as tax amount how much should minimum amount be deducted as tds quarterly? Is there any formula
Replies (2)
Quick Summary
There's no such formula. you need to calculate the taxable income of employee after considering all deductions
on the balance tax needs to be calculated as per slab rate and divide it remaining month's of the year and deduct tax.
on the balance tax needs to be calculated as per slab rate and divide it remaining month's of the year and deduct tax.
Unless there is any gain from CG or IFOS, in particular quarter, the income is to be spread over 12 months, and the liable tax amount should be calculated,
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