If salary paid per month Rs 40000/ I will deduct TDS from
his salary, please what I do explain.(send Urgently)
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Answer / sanjay kumar
The TDS Slab is,
Upto Rs.180000 - No TDS (Nil)
From 180001 to 500000 - 10%(TDS rate)
From 500001 to 800000 - 20% (TDS rate)
Above 800001 - 30% (TDS rate)
TDS Calculation:
RS.40000*12 = 4,80,000
Tax on Income Upto Rs.1,80,000 no TDS will be deducted.
So,Tax on the next 4,80,000-180000 = 300000
its comes under 2nd slab. [1,80,001 to 5,00000 = 10%]
so, 3,00000*10% = 30000/-
Income Tax Due 30000/-
Education Cess @3% 900/- (on income tax due)
So Total Tax payable 30000+900=30900
TDS deduction per Month is, 30900/12 = Rs2575/-
The Net Salary Decuted ,
40000-2575 = Rs.37425
| Is This Answer Correct ? | 49 Yes | 11 No |
Why peoples are confused in TDS and Income Tax?
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / vishal paul
Upto Rs.180000 - No TDS (Nil)
From 180001 to 500000 - 10%(TDS rate)
From 500001 to 800000 - 20% (TDS rate)
Above 800001 - 30% (TDS rate)
TDS Calculation:
RS.40000*12 = 4,80,000
Tax on Income Upto Rs.1,80,000 no TDS will be deducted.
So,Tax on the next 4,80,000-180000 = 300000
its comes under 2nd slab. [1,80,001 to 5,00000 = 10%]
so, 3,00000*10% = 30000/-
Income Tax Due 30000/-
Education Cess @3% 900/- (on income tax due)
So Total Tax payable 30000+900=30900
TDS deduction per Month is, 30900/12 = Rs2575/-
The Net Salary Decuted ,
40000-2575 = Rs.37425
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / vivekanand pandey
480000-200000=280000
20%of 280000=56000 for 1 yr.
plus 3% Cess 1680/-
Total 57680 /12 = 4807/- per month
NET MONTHLY SALARY PAYABLE
40000-4807=35193/-per month
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / venkatesh
480000-180000=300000
20%on 300000=60,000
60,000/12=5000per month
| Is This Answer Correct ? | 7 Yes | 18 No |
Answer / sanjay kumar
The TDS Slab is,
Upto Rs.180000 - No TDS (Nil)
From 180001 to 500000 - 10%(TDS rate)
From 500001 to 800000 - 20% (TDS rate)
Above 800001 - 30.3% (TDS rate)
TDS Calculation:
RS.40000*12 = 4,80,000
Upto Rs.180000 no TDS will be deducted.
So, 4,80,000-180000 = 300000
its comes under 2nd slab.
so, 300000*20% = 6000 (Which is for one year)
TDS deduction per Month is, 6000/12 = Rs.500
The Net Salary Decuted ,
40000-500 = Rs.39500
| Is This Answer Correct ? | 13 Yes | 49 No |
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