About tds

This query is : Resolved

Ram Prasad (Querist)
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01 December 2011 hi dear, i have problem with deducting tds from salary. 1-is tds deduct on gross salary/basic salary ? 2- if salary is inr16000/-p.m. Then applicable deducting tds or not. If applicable then how? Give reply with adjustment.plz......
REGARDS
RAMPRASAD

Aijaz Shaikh

Aijaz Shaikh (Expert)
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01 December 2011 Calculate taxable salary as per the provisions of income tax act, apply the tax rate and deduct tds.

Salary per year 16000*12=192000

For men basic exemption limit=180000.

Taxable Salary=12000.

Tax @ 10.3%=Rs. 1236 per year i.e. Rs. 103 per month.

Ram Prasad

Ram Prasad (Querist)
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02 December 2011 Dear,aijaz shaikh

Thanks to you. but plz.read again my query and resolved it...i think

Salary per year 16,000*12=192,000

and it is applicable for tds.and one query also i have mentioned there about tds deduction on basic salary or gross salary... be positive.i am waiting for your response

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