What will be my exact tds for 2011-12

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Sandeep (Querist)
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02 February 2012 Hi sir,

I am a software engineer in a pvt ltd company.

I joined the company in august 2011 and my salary is Rs 45000/m.

My invests are following

Health Insurance - Rs. 5139(Annual)

LIC - Rs. 2900(Annual)

PPF - Rs. 10000

Child fees- 450*12 = Rs. 5400

Home Rent - 10000 per month

Thanks and regards

Sandeep Yadav

Noida

Yogesh Agarwal

Yogesh Agarwal (Expert)
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02 February 2012 Are you entitled to HRA (House Rent Allowance)..?? if so then you can take the benefit of home rent paid by you...

Also please provide break up of salary if any.

Sandeep

Sandeep (Querist)
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02 February 2012 Hi Sir,

Is rent aggrement is must for HRA.

What about PPF amount. Suppose i deposite 10000 in PPF then 10000 will be less from my taxable amount or some amount of 10000.

Thanks

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 February 2012 Rent receipts with house owner details is required to claim the HRA.

PPF will eligible for 80C deduction.

for calculation need to give the salary break up

CA. RAVIKUMAR

CA. RAVIKUMAR (Expert)
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02 February 2012 You van claim
80C-(PPF and LIC)
80D-(Health insurance)
child fee- Rs 100 per month per child subject to 2 child if it is hostel fee then Rs 300 per month per child subject to 2 child
in respect of rent Provide the details of salary break up and

Sandeep

Sandeep (Querist)
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06 February 2012 My boss give me following breakup of my 1 month salary,
Basic Pay - 27,000

HRA for the month- 17,200

Conveyance allowance-800

Total as per Calculation - 45,000

House Rent - 10,000

Your Investments - 13,439

HRA Exempt - 12,300

TDS Deducted - 2,141

Net Paid - 42,859

please suggest me my TDS from august 2011 to march 2012.I have already declared my investment in my previous query.

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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06 February 2012 HRA exemption allowed maximum of Rs.10800(40% basic only)

Total tax is coming around Rs.21358

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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07 February 2012 Your PPF Rs.10,000/- is per year or per month?

Beg to Disagree with Mr Ramesh Krishnan, Since you worked for 8 months, your tax will not come to Rs.21358/-. It is lesser than that.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 February 2012 Absolutely agree with Mr.Ravi. Thanks for correction.