if salary paid per month rs. 46500/- i will deduct tds from
his salary please what i will do explain
Answer Posted / mohd waqas
FIRSTLY YOU WILL DO WORKING SHEET AS FOLLOWING
MONTHLY SALARY - 46500
YEARLY SALARY -46500*12= 558000
LESS HIS ALL DEDUCTIONS SPPOSE -100000
total income is 458000
Slab Rate SLABS RATE for f. y. 2010-11
Tax Liability if he is male or HUF
UPTO 160000 NIL
160001-500000 10% 298000 29800
500001-800000 20%
MORE THAN 80000030% 0 0
BASIC TAX 29800
ADD:E.CESS(2%) AND SHC(1%) 894
TOTAL TAX DUE(R.OFF IN RS) 30694
So 30694 divide for 12 and you will deduct Tax in his
Salary appeox-2600
We Hope you satisfied the answer.
Is This Answer Correct ? | 13 Yes | 5 No |
Post New Answer View All Answers
Private purchases amounting to rs 5000 have been debited to purchases account
8. What is the difference between: a. Direct Costing Method and Absorption Method. b. Fixed Cost and Variable Cost.
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
Tell me how you can adjust entries into account?
whether allowances will be included in calculating esi from gross salary
pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
What do we mean by Redemption of shares and debentures?
Tell me about an invoice discrepancy you discovered and how you resolved it
what is apply SI post
What are the uses of journal in accounting?
Can you please explain the difference between differentiate between consignor and consignee?
What qualifications have you achieved?
Tell me what is trial balance in accounting?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?