Income Tax on salary
This query is : Resolved
30 May 2009
Income Tax on salary
Hii frndss
Please help in the following:
If Mr.X is a retiared lecturer (h.o.d) of civil Engg.and getting a penson of Rs. 12000 pm. and he join an educational institute(engg.college) as principal/director on a salary of rs.60000 pm.then what amount of TDS is deducted from his salary every month.and what is the income tax of his salary.
please tell me somthing about this.
thanks
jagjeet
Hii frndss
Please help in the following:
If Mr.X is a retiared lecturer (h.o.d) of civil Engg.and getting a penson of Rs. 12000 pm. and he join an educational institute(engg.college) as principal/director on a salary of rs.60000 pm.then what amount of TDS is deducted from his salary every month.and what is the income tax of his salary.
please tell me somthing about this.
thanks
jagjeet
CA Tilak Raj Sharma
(Expert)
30 May 2009
If the X wants to deduct TDS on his pension then you need to deduct TDS both salary + pension. Please calculate the income tax on his income (salary or salary+pension) and then deduct the average tax per month.
30 May 2009
Dear sir,
thanks for reply,
can u explain me through an example that what will be the tds amt and income tax on his salary pm.lecturers are profissional or not......
Thanks & regards.
JAGJJET
thanks for reply,
can u explain me through an example that what will be the tds amt and income tax on his salary pm.lecturers are profissional or not......
Thanks & regards.
JAGJJET
CA Nitin Wadhwani
(Expert)
30 May 2009
Income from salary - 864000.00
(60000+12000=72000*12)
Gross Total Income 864000.00
Tax On Above Income 169126.00
(Assuming male < 65 years)
Monthly Deduction 14094.00
(169126/12)
(60000+12000=72000*12)
Gross Total Income 864000.00
Tax On Above Income 169126.00
(Assuming male < 65 years)
Monthly Deduction 14094.00
(169126/12)
30 May 2009
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