Tds on salary

This query is : Resolved

Gurwinder Singh (Querist)
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07 September 2018 Dear Experts can u please help me to calculate tds on salary as per detail given below:

Per Month
Basic Salary =13000
Hra = 5200
Da = 9300
Medical = 1200 fixed
Phone = 1000 fixed
Spl. Allowances = 5940 fixed
Total Salary 35640

Less: Pf = 1565
Net Payable= 34075

Beside this we will also pay incentives on sale which will be 4000 to 4500 per month , this amount is not fixed , it will be based on sale per month

kindly help

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
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07 September 2018 34075*12 Less any other saving declared by employee other than P.F.+Incentive on sale is to be considered for income & then calculate tax as per slab.

Gurwinder Singh

Gurwinder Singh (Querist)
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07 September 2018 dear alkesh t mehta sir , how to consider value of incentive for the year, its based on sale

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RAJA P M

RAJA P M (Expert)
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07 September 2018 (how to consider value of incentive for the year,) Also you give the approx value. You ll calculate as per your value and deduct TDS... Any difference in the end of the month (or last 2 months) You can calculate actual amount deduct TDS based on the difference...

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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08 September 2018 If you consider gross Rs.35460+4000 approx incentives total gross Rs.39460/- if consider 12 months roughly total Rs.473520/- Std Deduction Rs40000/- Deduction forFy2018-19 net salary income 433520/- chapter VIA PF 18780/- taxable income Rs.414740/- as per your details 5% tax above 250000/- to 414740 is taxable i.e 164740/-TAX Rs. 8237/- +4% Cess 329.48=8566.48 will be taxable amount with above detail