Please explain this concet, how to calculate the Tds on salary, For example ,Mr.A drawn a salary Rs 80000 per month.In which rate TDS has deduct in salary.
13 May 2014
Calculate the salary income of the person. add any income from house property, other sources etc. declared by the employee. calculate tax payable by the employee as per the provisions of income tax act, applying slab rates.
divide the amount of tax payable with the number of months left in the year. for if you are doing this exercise in the month of April, divide the tqx amt by 12.
The amount so obtained is your monthly tds deduction.
sent from handheld, please excuse brevity n typos.
CAclubindia
