How can we calculate tax liability on salary to pay tds
This query is : Resolved
09 December 2014
how can we calculate tax liability on salary
for pay tds on behalf of employee every month estimated
please give an explanation
tanking you
for pay tds on behalf of employee every month estimated
please give an explanation
tanking you
09 December 2014
1. Compute the Estimated Taxable Income of the employee for the whole year after providing all exemptions (HRA,etc.) & deductions (80C, 80D, etc.)
2. Compute the tax liability on the above income.
3. TDS per month shall be total tax liability/number of months
2. Compute the tax liability on the above income.
3. TDS per month shall be total tax liability/number of months
Message likes :
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09 December 2014
Hi
Check this for explanation.
https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp
Thanks
Check this for explanation.
https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp
Thanks
Rupesh Jain
(Expert)
09 December 2014
you have to calculate the yearly salary and take investment declaration form from employee then you calculate the net tax liability and divide the tax with remaining month and deduct the TDS per month.
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