Tax liability calculation

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32 Points Posted on 27 March 2015

Dear Members

I have a query on income tax 

salary paid to an employee is Rs. 52000 per month. as he stated on 16th march 2015, so he should be paid this month (half of the salary)

Kindly let me know what kind of tax there is and how much need to be deducted  before paying the amount.

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On 27 March 2015 at 11:57 Report
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493 Points Posted on 27 March 2015
Tax on salary will be deducted if it exceed the threshold limit of tds deduction. So i think in ur case tds shall not be required to be deducted.
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On 27 March 2015 at 12:00
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32 Points Posted on 27 March 2015

okay 

thank you

So ... please let me know what all amount should be deducted from 52000/- before paying to the employee in a month 

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On 27 March 2015 at 12:14
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493 Points Posted on 27 March 2015
'What all amount should be deducted' let me clerify for which amount u r talking
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On 27 March 2015 at 12:21
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32 Points Posted on 27 March 2015

that is

if his gross salary is Rs. 52000 per month

wht is the tax to be paid , thn any deductions, etc

al last what should be the net salary he should get

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On 27 March 2015 at 12:31
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493 Points Posted on 27 March 2015
R u talking about deductions like pf, esi, pt?
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On 27 March 2015 at 12:43
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32 Points Posted on 27 March 2015

yes...

whtd shd be the net salary he shd get after deductions

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On 27 March 2015 at 13:34
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493 Points Posted on 27 March 2015
It depends on applicability of laws. If laws of pf and esi is applicable to your entity then u r required to deduct at the prevailing rate. R dis laws applicable to ur entity? R u making deductions while making salary to other employees?
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On 27 March 2015 at 13:54
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493 Points Posted on 27 March 2015
Esi 4.75% if salary less than 15000 p.m. pf 12% if salary less than 6500 So i think u r not required to make any deductions as in ur case salary is 52000 p.m.
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On 27 March 2015 at 13:59
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32 Points Posted on 27 March 2015

okay okay

thank you

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On 27 March 2015 at 14:38

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