calculate TDS & Income tax

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umesh bhardwaj (Querist)
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17 March 2011 Dear Sir,
1. in our co. some employee enter in Nov & Dec-10 and his salary per months app. Rs. 35000 and these employee total earning from co. appr.170000/- up to March.
2. is TDS applicable if applicabe pls provided me procedere & Calculator of TDS
3. I am confusion that according to income tax act we will not pay a individual one time more then Rs. 20000/- or per year Rs. 50000/-
4. accoring to this view all employee applicable TDS , So pls guide me.

Thanks & regards,
Umesh Bhardwaj

Rajan Kapoor

Rajan Kapoor (Expert)
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17 March 2011 Take employee declaration from employees of their Incomes and saving u/s 80C and Form 16 or salary certificate issued by previous employer. Now calculate the Gross total income for full financial year & calculate tax liability and deduct TDS accordingly.