Tds calculation in salary

Is the basic salary figure correct? It seems unusual.

Sorry, The Basic Salary is 40080.00 and Gross Salary is 100200

Based on the following assumptions, taxable salary is 97350 (40080+16032+4008+37230) and thus annual salary would be 1168200. Tax payable is 180720 pa and 15060 pm.

Transport allowance up to 1600 pm and medical reimbursement up to 15000 pa not taxable.

Assumptions:

1. Salary structure given is for a month
2. No claiming of exemption for HRA u/s 10(13A)
3. No deduction u/s 80C etc
4. No deduction u/s 24b
5. Age is <60 yrs

If any of the above assumptions does not hold good, then tax payable would differ.

Thanks for your valuable suggestion,

If you please give me the details tds calculation with % then it will be better for me in future calculation

Another Question : Is there any way out for reducing the TDS?

IT slabs for FY16-17:

• Upto 2.5 lacs - Nil
• >2.5 to <=5 lacs - 10%
• >5 to <=10 lacs - 20%
• >10 lacs - 30%

Education cess @ 3% on income tax.

Yes, a lot of options for tax planning:

1. HRA exemption
2. Deduction u/s 80C, 80CCC and 80CCD(1): Max 1.5 lacs
3. Deduction u/s 80D, 80DD etc
4. Deduction u/s 80G
5. Deduction u/s 80TTA
6. Deduction of interest u/s 24b etc