adspace


i need clarification about tds will be calculate before deductions or after deductions on gross salary+incentive

Answer Posted / Abhinay Singh

TDS (Tax Deducted at Source) is calculated before the deductions on gross salary and incentives. This means that the TDS is first calculated based on the total gross salary and incentives, and then any applicable deductions such as tax-saving investments or professional tax are made.

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Tell me which accounting application you prefer most and why?

1040


The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).

2192


Why did you choose the a-levels you did?

1146


Have you ever made mis reports and what are they?

1132


rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.

1767


Which accounting applications are your familiar with?

1061


Tell us what kind of work environment do you prefer?

1167


The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.

1792


please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com

2022


Explain a time when you have not met your goal?

1181


Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-

1951


a.what products does your firm produce? b.what costs are asssigned to the product produced? c.for particular product,what direct materials are used? d.what percentage of total manufactoring costs is direct labor? direct materials?overhead? e.how is overhead assigned to the products? f.do you now use or plane to use an activity_based management system?why or why not?

2423


why i want to join Hawkins company

2314


Can you send me advertisement format for lost of E-1 form. kindly do the needful urgently. Thanks AP

1988


Do you have any professional experience in this field?

1105