Please post any example of TDS on salary calculation.
Please post any example of TDS on salary calculation.
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.
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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