Tds rate chart & salary tds

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how to calculate tds salary working ? & tds rate chart 2020- 21
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On an Average  basis  you have deduct  TDS  every monthly . 

Example -   If   your  Salary  for  year  is  500000/-  

Then  income  Tax  on same  will be  12500/-  (  500000/ - 250000= 250000/- So on 250000/-  Income tax will be 5% of 250000/- = 12.500/-) 

and therefore   12500  is  divided  by 12  month   = 1042 /-  is  your  TDS  amount  , you should deduct  TDS   1042 /- form  April  to  march monthly  and pay to the Govt  account . If  Excess  paid  you  can   Claim refund 

For  TDS chart  for  F.Y  2020-21  you search  Google  

Ay 20-21 slab is there.
You need not worry
Sarpale.


CCI Pro

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