if salary paid per month rs. 28000/- i will deduct tds from
his salary please what i will do explain
Answer Posted / manikandan
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 ? | 41 Yes | 15 No |
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