Tds

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Parvat singh shekhawat

Parvat singh shekhawat (Querist)
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05 November 2012 Give me example of TDS calculation on salary of 240000

@VaibhavJ

@VaibhavJ (Expert)
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05 November 2012 HI

It is assumed that Rs.2.40 lacs gross taxable income after deduction u/s-10.

From Rs.240000 deduct deduction u/s 80D & 80C.

From Balance give standard deduction of Rs. 200000.

So net amount is Taxable. Say in current case Its Rs. 40,000/-

Tax Payable @ 10% & 3% Cess Rs. 4000 & Rs.120.

Total Tax is Rs.4120/- that you have to deduct per month. Say from April so per month tax comes to Rs.343

Rgds//Vaibhav
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