Tds on salary

Dear Chandra

Let us suppose that ur director will be getting rs. 90000 in all months,

So his total estimated remuneration will be 90000*12 = Rs 1080000.

According to tax slab of A.Y 2013-14

tax on income will be 174000.

% of tax on income will be  (174000/1080000)*100 =16.11 %

Now whatever be the per month income of ur director, calculate the TDS of ur director by multiplying tds rate(i.e 16.11%) to per month income,

for ex.

Month              income                           TDS rate                     TDS/month  

Apr                    90000                              16.11%                       14500

May                    80500                               16.11%                      12969

June                  100000                             16.11%                      16110 

At the end of the year again calculate tax on actual income earned.

If, Tax on income Actual earned> Tax on Estimated income, pay remaining amount.

if, tax on income actual earned < tax on Estimated income, claim refund by filing return.