Tds deduction from salary - monthly

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I want to know the calculation of TDS deduction from monthly salary. If anyone salary is rs.27240 then how will be TDS deduct from his salary? PF -774 & PT -200 then TDS deduction amt?

Replies (5)

Dear Pooja , So many things need to be considered for arriving at exact TDS amount.

But for now:

Gross salary-326880

Less-9288(PF)

Less:-2400(PT)

Net Income-315192/-

Tax-6715

Monthly TDS-560/-

 

Dear saloni ; you have not claimed the additional tax rebate of rs. 2000 u/s 87a balance tax will be rs. 4655/- and monthly TDs will be rs. 390/- approx.

Agree with Mr. Naveesh Dhar

Rebate u/s. 87A is available for FY 2014-15 also.

Okkk Yes I forgot that. sorry!!

Check this link for excel add in to calculate tax..

/forum/income-tax-excel-add-in-289794.asp

 

Thanks

 

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