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Tax liability calculation


Pramod P.R (Others)     27 March 2015

Pramod P.R
Others 
 37 points

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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.

avater

Intermediate Student (-)     27 March 2015

Intermediate Student
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 40 likes  634 points

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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.

Pramod P.R (Others)     27 March 2015

Pramod P.R
Others 
 37 points

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okay 

thank you

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

avater

Intermediate Student (-)     27 March 2015

Intermediate Student
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'What all amount should be deducted' let me clerify for which amount u r talking

Pramod P.R (Others)     27 March 2015

Pramod P.R
Others 
 37 points

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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

avater

Intermediate Student (-)     27 March 2015

Intermediate Student
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R u talking about deductions like pf, esi, pt?

Pramod P.R (Others)     27 March 2015

Pramod P.R
Others 
 37 points

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yes...

whtd shd be the net salary he shd get after deductions

avater

Intermediate Student (-)     27 March 2015

Intermediate Student
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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?

avater

Intermediate Student (-)     27 March 2015

Intermediate Student
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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.

Pramod P.R (Others)     27 March 2015

Pramod P.R
Others 
 37 points

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okay okay

thank you


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