Please post any example of TDS on salary calculation.
sasi kumar.c (Student) (68 Points)
21 January 2013Please post any example of TDS on salary calculation.
Simran
(Student)
(1165 Points)
Replied 21 January 2013
Rates of tax
A. Normal Rates of tax:
|
Sl. No. |
Total Income |
Rate of tax |
|
1 |
Where the total income does not exceed Rs. 2,00,000/-. |
Nil |
|
2 |
Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-. |
10 per cent of the amount by which the total income exceeds Rs. 2,00,000/- |
|
3 |
Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. |
Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
|
4 |
Where the total income exceeds Rs. 10,00,000/-. |
Rs. 1,30,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
B. Rates of tax for every individual, resident in India, who is of the age of sixty years or more but less than eighty years at any time during the financial year:
|
Sl. No |
Total Income |
Rate of tax |
|
1 |
Where the total income does not exceed Rs. 2,50,000/-. |
Nil |
|
2 |
Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-. |
10 per cent of the amount by which the total income exceeds Rs. 2,50,000/- |
|
3 |
Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. |
Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
|
4 |
Where the total income exceeds Rs. 10,00,000/-. |
Rs. 1,25,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
C. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
|
Sl. No |
Total Income |
Rate of tax |
|
1 |
Where the total income does not exceed Rs. 5,00,000/-. |
Nil |
|
2 |
Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000/-. |
20 per cent of the amount by which the total income exceeds Rs. 5,00,000/- |
|
3 |
Where the total income exceeds Rs. 10,00,000/-. |
Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
It is recommended to use TDSMAN software for filing TDS and TCS returns as per TIN Nsdl format. This TDS software enables eTDS & eTCS return generation of all types of forms - 24Q, 26Q, 27Q, 27EQ & also prints TDS certificate - form 16, form 16A.
Moreover, it has been rated no.1 as per NSDL data as acceptance of Correction Returns.
You download free trial of TDSMAN software from https://www.tdsman.com/Trial-Form.aspx
CAclubindia
