How to calculate Tax

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30 November 2009 How to calculate tax on salary

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30 November 2009 And TDS On it.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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30 November 2009 calculate total salary payable for the current FY after deducting the pemissible allowances like Conveyance,HRA etc to get the taxable salary.

Then deduct losses from House Property if any ( interest paid on Housing loan)

Deduct : Deductions under chapter vi i.e. investments under Sec 80 C, Medical Insurance pemium D0D, donation 80G etc and u will get taxable income. Now compute tax at the applicable rate and distribute among the months availbale for deducting Tax at source.

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