Tds on salary

A/c entries 716 views 1 replies

Dear Sir
         Please tell me how much TDS deduct on salary my salary is Rs 20000/- pm and how to save tax & TDS. Please explain.

with regards,

 

vinod kumar

Replies (1)

If your Salary is =Rs.20000.00 pm then your Gross Anual Salary Is =Rs.20000.00 X 12.=Rs.240000.00 in F.Y. exemption lemit in case of other  men Individual  (not a sinior citygen, Very Sinor citygen  or women) is =Rs. 200000.00 . Your Tax liablility Is =Rs. 10% of amount exceed Rs. 200000.00 i.e. Rs. 4000.00  which your employer deducted 333.00 pm. So, If you not wish to deduct TDS from your salary make some Investiment under LIC, Pension Fund, ppf etc. U/s 80C. or make mediclaim policy u/s 80D etc. to deduct chapter VI-A minimum Rs. 40000.00. then u r Taxable salary is Nil & employer not deduct any sum as TDS from your Salary.


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