TDS Chargeable on Salary
This query is : Resolved
07 September 2008
At what rate TDS will be charged on Salary and what should be the minimum Salary?
07 September 2008
calcualte the tax amount on whole year's salary & deduct this amount from monthly payment of salary.
08 September 2008
TDS on Salary is deducted on the Slab Rates basis. The rates are prescribed in the budget every year. The minimum taxable salary prescribed is the same as the minimum exemption limit provided to individual assessee. For AY 2009-2010, the minimum taxable salary is Rs. 150000 for individual other then female assessee and senior citizens.
09 September 2008
calculate tax liablility for the year as per IT act and div the same by 12 mts
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