Tds from sqalary

1. Add the salary received from both the company (eg. Rs. 200,000 and Rs 4,00,000)

2. Calculate the total tax liability.. (Rs. 51,500 in above eg)

3. Proportionately divide the tax libility as per the amount of salary.. (Rs.17,167 and Rs. 34,333)

4. Compute TDS monthly for both the companies.. (Rs. 1,430 and Rs. 2,861)

I think , Salary received from the both co.'s would be aggregated nd apply the slab rates as per the IT provisions for calculating TDS nd then divide proportionatly as per the salaries

Section 192(2) deals with situations where an individual is working under more than one employer or has changed from one employer to another. It provides for deduction of tax at source by such employer (as the taxpayer may choose) from the aggregate salary of the employee who is or has been in receipt of salary from more than one employer. The employee is now required to furnish to the present/chosen employer details of the income under the head “Salaries” due or received from the former/other employer and also tax deducted at source therefrom, in writing and duly verified by him and by the former/other employer.

The present/ chosen employer will be required to deduct tax at source on the aggregate amount of salary (including salary received from the former or other employer).