Tds on salary

TDS on salary is calculated by considering normal Slab rates.

Provide your Breakup of salary i.e; Basic, TA etc.

 

Income Tax Slab	Tax Rate
Income up to Rs 2,50,000*	No tax
Income from Rs 2,50,000 – Rs 5,00,000	5%
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%

If you income exceeds the basic exemption limit then tds is to be deducted. TDS will be calculated as follows- Consider your total income from salary and reduce it by all the deduction like LIC, mediclaim, etc ie all deductions under chp VI A,the amount there after is your net taxable income. Calculate tax payable as per slab rates on your net taxable income and the tax payable arrived is to deducted as tds on per month basis.