T.D.S. On Salary

Page no : 2

girish mangla (practice) (206 Points)
Replied 24 March 2008

answer to Q.1 in case of person having salary of 10000/- p.m., his taxable income without having any investment will be Rs. 120000/- and as per A.Y. 2008-2009 slab rate for individual person is Rs 110000/- i.e. his tax liability is on Rs. 10000/-i.e. 10000*10%=1000/-. we can divide it by 12 for calculating monthly deduction.

girish mangla (practice) (206 Points)
Replied 24 March 2008

Answer to Q-3 P.F. is deducted on basic salary of employees having Rs. 6500/- or less. Rate of PF deduction is 12% on employee's salary and 12.5% from employer's hand.

girish mangla (practice) (206 Points)
Replied 24 March 2008

Answer to Q-4 There is no slab rates for deduction of PF. It is deducted at flat rate of 12%p.a.

girish mangla (practice) (206 Points)
Replied 24 March 2008

Answer to Q-5 any person can deduct PF if he has employed 20 or morethan 20 employees in his firm or business

girish mangla (practice) (206 Points)
Replied 24 March 2008

Answer to Q-7 interest is received @ 8.5% on employee's deduction and on employer's contribution.

(Guest)

sir i mant to know what is TDS and what are the new charges of TDS.

(Guest)

How to calculate the income tax individually ?

MY SALARY IS 271798.00

TDS IS 13714.00

WHAT ARE THE EXPENSES ARE ALLOWED. ?

PLEASE MESSAGE ME.

Thank you,

Mahesh.

(Guest)

HOW TO CALCLUTED TDS ON SALARY

Umashankar (Account Assistant) (20 Points)
Replied 25 April 2008

Hello, can u send me the format of salary computation with the slab rate of deductions.

(Guest)

My Total retainer ship paymnet of Rs. 10,000 & it is the only of my income of a month then how much TDS I have to Pay & if TDS is deducted then How much Return i will get at the end of the year. My E-Mail Id : rajesh_bhatt2001 @ indiatimes.com

sushil kadam (service) (0 Points)
Replied 06 May 2008

Kindly calculate annual income tax to be deducted for 2008-09 india for following

BASIC	6271
HRA	3763
SPL ALLOWANCE	5081
CONVEYANCE ALLOWANCE	800
MEDICAL ALLOWANCE	1250
TOTAL	17165
(-)DEDUCTIONS
PF	753
PROF TAX	200
	16212