Tds for salary

It depends upon the pay you are getting. Salary is liable to TDS if you income (annualised) exceed Rs. 2 lacs. So, if you has joind in March 13 and your taxable salary is Rs. 20000, No TDS is dedductable ofr FY 12-13, but for FY 13-14, annualised salary will be Rs. 2,40,000 and thus TDS will be deducted 10% from monthly salary and you will be paid Rs. 18,000.

In order to avoide TDS, you can minimise tax liability by taking exemptions of various allowancces available for salaried persons and bifurcate salary into various sub-parts. You Eomployer's HR will look about this. Ask them.

I joined in june 2013 and my salary is 336000. I heard like tax will not b levied for the first year of the career. Pls clarify sir.

Dear hijas

if you have salary received form any employer above 2,00,000/- then not tds is deducted from your salary . now Basic exemption of income tax is 200,000/- & rebate u/s 87A Rs, 2000/-

0-2 lac to

2 lac to 5 lac 10 %

5 lac to 10 lac 20%

Above 10 lac then 30% + 03.% edu sess.

You have  get deduction  u/s 80 c for 1 lac in any investement.

You have recieved hra & paid rent then deduction is applicable. u/s  house propriety.

Suppose 

You have get sarary  basic salary 4 lac & you have investment 1 lac than your salary is taxable

salary 4 lac

Inv.     1 lac

        _____

          3 lac

basic  2. lac

   ========

         1 lac taxable

10%          10000/-

  Rebate     2000/-

net tax paid ----------

                    8000/- /12 months

  667/- p.m  TDS  is duducted from your salary Rs,  667 p.m

That all

Thanks

Ramanuj

TDS is leviable once the income exceeds the maximum amount not chargeable to tax.

Therefore, in your case you are liable to pay tax since it is exceeding Rs.200,000/-.

Its. very use full for your query

How Much Tds Deducted on Salary Please Tell Me

How Much Rebate Deducted on Salary Please Tell Me

With Regards,

Mohammad Baba