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Question
if salary paid per month rs. 28000/- i will deduct tds from
his salary please what i will do explain
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10.3%(TDS rate)

From 300001 to 500000 - 20.3% (")

Above 500000 - 30.3% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 186000*10.3% = 19158 (Which is for one year)

TDS deduction per Month is, 19158/12 = Rs.1596.5

The Net Salary of Mr.X is,

28000-1597 = Rs.26403/-
 
Is This Answer Correct ?    324 Yes 115 No
Savithri Natarajan
 
Answer
# 2
The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10.3%(TDS rate)

From 300001 to 500000 - 20.3% (")

Above 500000 - 30.3% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.

Taxable amount up to 3lakh
so its come to First and second slab
150000*10%=15000
And Next 36000*20%= 7200
TAX = 22200
Add Edu.Cess3%= 666
Total = 22866

TDS deduction per Month is, 22866/12 = Rs.1905.5

The Net Salary of Mr.X is,

28000-1906 = Rs.26094/-
 
Is This Answer Correct ?    167 Yes 80 No
Manish Kumar
 
 
 
Answer
# 3
New Tds rate on 1st Oct.2009
(Edu, cess not applicable )

Upto Rs.160000 - No TDS (Nil)

From 160000 to 300000 - 10%(TDS rate)

From 300001 to 500000 - 20% (")

Above 500000 - 30% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.160000 no TDS will be deducted.
So, 336000-160000 = 176000
its comes under 1st slab.
so, 140000*10% = 14000
(Which is for one year)

And Next 36000*20% = 7200

TotalTAX = 21200

TDS deduction per Month is, 21200/12 = Rs.1767

The Net Salary of Mr.X is,

28000-1767 = Rs.26233/-
 
Is This Answer Correct ?    39 Yes 14 No
Manikandan
 
Answer
# 4
The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10%(TDS rate)

From 300001 to 500000 - 20% (")

Above 500000 - 30% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 150000*10% = 15000
(Which is for one year)

And Next 36000*20%= 7200
TAX = 22200
Add Edu.Cess3%= 666
Total = 22866

TDS deduction per Month is, 22866/12 = Rs.1905.5

The Net Salary of Mr.X is,

28000-1906 = Rs.26094/-
 
Is This Answer Correct ?    65 Yes 41 No
Jagmohan
 
Answer
# 5
The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10%(TDS rate)

From 300001 to 500000 - 20% (")

Above 500000 - 30% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 150000*10% = 15000
(Which is for one year)

And Next 36000*20%= 7200
TAX = 22200
Add Edu.Cess3%= 666
Total = 22866

TDS deduction per Month is, 22866/12 = Rs.1905.5

The Net Salary of Mr.X is,

28000-1906 = Rs.26094/-
 
Is This Answer Correct ?    34 Yes 14 No
Chetan
 
Answer
# 6
Hullow mr Jagmohan and Manish Kumar both of your
explanations are not correct. The question is lack of
clarity. He didnt clear it as gross salary or Nett salary.
The nett if exceeds 1,50,000 attracts tax. You pl note the
basic exemption is 1,50,000. In addition to that exemptions
under Section 10 and Chapter Vi were there. If planned
correctly taking all the provisions into consideration a
salried individual need not pay a single paisa if his nett
income exceeds even 4,35,000/-Pl send your mail.id I will
send you a Lay Man tax plan to avoid tax burden
 
Is This Answer Correct ?    32 Yes 15 No
Satyanarayana Raju
 
Answer
# 7
if salary paid per month rs. 20000/- i will deduct tds from
his salary please what i will do explain
 
Is This Answer Correct ?    21 Yes 7 No
Amol
 
Answer
# 8
He is getting salary Rs. 28000/- P.m from april to Oct.
deducted TDS Rs. 1906/- pm Now salary paid per month rs.
35000/-(w.e.f Nov.09) how will deduct tds from
his salary please what i will do explain
 
Is This Answer Correct ?    18 Yes 10 No
Suresh
 
Answer
# 9
Mr. Satyanarayana Raju Sir, Above you were talking about that If planned
correctly taking all the provisions into consideration a
salried individual need not pay a single paisa if his nett
income exceeds even 4,35,000/-,
Can you please send me how it is possible in detail.
My e-mail ID is s.jimil.1985@gmail.com
 
Is This Answer Correct ?    13 Yes 10 No
Jimil
 
Answer
# 10
The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10.3%(TDS rate)

From 300001 to 500000 - 20.3% (")

Above 500000 - 30.3% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 186000*10.3% = 19158 (Which is for one year)

TDS deduction per Month is, 19158/12 = Rs.1596.5

The Net Salary of Mr.X is,

28000-1597 = Rs.26403/
 
Is This Answer Correct ?    2 Yes 0 No
Umesh
 

 
 
 
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