CAclubindia

CA. Naveen Bhat's Expert Profile

Queries Replied : 36

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Hi, I am CA. Naveen Bhat. Presently working with a MNC as Accounts Manager. I qualified in the year 2004. Previous to this I have worked with M/s. S.V. Ghatalia ( Now merged with Ernst and Young ) and with Deloitte Haskins & Sells.

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DAS77 says : u/s195A
A foreign salaried person to be paid salary of net tax. The tax will be paid by the company. Please can anyone provide a formula to calculate the same. As per sec.195A,where under an agreement TDS is borne by the person by whom the income is payable ,then for the purposes of tax deduction ,such income shall be increased to such amount as would ,after deduction of tax ,be equal to the net amount payable under such agreement . Therefore ,the Indian Company shall deduct the following Tax deducted at source from the salary paid. Eg.1 Net Salary Income - Rs. 790524. How much tax will the company bear? Eg.2 Net Salary Income - Rs. 520000. How much tax will the company bear? Eg.3 Net Salary Income - Rs. 2983000. How much tax will the company bear?