TDS
This query is : Resolved
28 May 2009
hi everyone
Mr. x who lives in delhi gets salary from a proprietorship firm for two months Rs. 30,000/- p.m. [ Included Conveyance Allowance Rs. 800/- p.m. & HRA Rs. 7,200/-p.m. ]
after that
Mr. x gets director remunaration from his Pvt. Ltd. co. for ten months Rs. 30,000/- p.m. [ Included Conveyance Allowance Rs. 800/- p.m. & HRA Rs. 7,200/- p.m. ]
His LIP is Rs. 27,744/- & His tution fee is Rs. 7,200/-.
He pay Rent 7,000/- p.m.
Pls. calculate TDS.
Thanks in advance
I am waiting for your reply.
Mukesh Kumar
Delhi
Mr. x who lives in delhi gets salary from a proprietorship firm for two months Rs. 30,000/- p.m. [ Included Conveyance Allowance Rs. 800/- p.m. & HRA Rs. 7,200/-p.m. ]
after that
Mr. x gets director remunaration from his Pvt. Ltd. co. for ten months Rs. 30,000/- p.m. [ Included Conveyance Allowance Rs. 800/- p.m. & HRA Rs. 7,200/- p.m. ]
His LIP is Rs. 27,744/- & His tution fee is Rs. 7,200/-.
He pay Rent 7,000/- p.m.
Pls. calculate TDS.
Thanks in advance
I am waiting for your reply.
Mukesh Kumar
Delhi
28 May 2009
rs.1060pm
Message likes :
1 times
28 May 2009
As per my calculation it is coming to Rs.899/- per month.
Basic Salary 22000/-
Taxable HRA 2200/-
Total 24400*12 = 292800
Less: ded u/s 80C = 34944
Net Income = 257856
Basic exemption = 150000 (Assumed not being a senior citizen)
Balance income taxable @ 10% = 107856
Tax = 10785/- divided by 12
= 899/- approx per month
Basic Salary 22000/-
Taxable HRA 2200/-
Total 24400*12 = 292800
Less: ded u/s 80C = 34944
Net Income = 257856
Basic exemption = 150000 (Assumed not being a senior citizen)
Balance income taxable @ 10% = 107856
Tax = 10785/- divided by 12
= 899/- approx per month
Message likes :
1 times
28 May 2009
confusion
28 May 2009
Request to Swapnila to send detailed calculation. May be there is some difference in assumption for HRA.
Message likes :
1 times
28 May 2009
Hey Swapnila pls. send ur calculation.
Hey Tarun i think that u r right. but..
I think that tax should be Rs. 925/- p.m.
u calculate right but u did some mistakes
1. u right hra amount above 2200/- p.m. but it doesn't matter cause u wrote below right amount Rs. 24400/-
2. u calculate right tax but didn't add Edu.Cess that is 3% .
What u say ?
Hey Tarun i think that u r right. but..
I think that tax should be Rs. 925/- p.m.
u calculate right but u did some mistakes
1. u right hra amount above 2200/- p.m. but it doesn't matter cause u wrote below right amount Rs. 24400/-
2. u calculate right tax but didn't add Edu.Cess that is 3% .
What u say ?
28 May 2009
U know Arun I ask this query to many experts and this is a normal query that every C.A. faces daily in his/her life.
but no one could solved it.
finally I got the result and Only u solved it.
I really apreciate it.
U r the Original C.A.
So hats off u .......
Take vry Gud care of urself.
byeee
but no one could solved it.
finally I got the result and Only u solved it.
I really apreciate it.
U r the Original C.A.
So hats off u .......
Take vry Gud care of urself.
byeee
28 May 2009
Yes Mukesh. I agree that I made a mistake in adding of Education cess @ 3%. I am thankful to you to pointout my mistake. And yes, thanks a lot for appreciating my reply.
Message likes :
1 times
29 May 2009
Hi Tarun
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
29 May 2009
Hi Tarun
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
i am waiting for ur reply
thanks
Mukesh Kumar
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
i am waiting for ur reply
thanks
Mukesh Kumar
29 May 2009
Hi Tarun
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
i am waiting for ur reply
thanks
Mukesh Kumar
tell me
How should be Form 16 according to Pvt. Ltd. Co. for above Query.
pls. mail me at my mail id at mkp2685@gmail.com
i am waiting for ur reply
thanks
Mukesh Kumar
29 May 2009
There shall be two different TDS certificates. One from that proprietorship concern, and another from the pvt ltd company. In the certificate of the organisation, where the assessee worked in later part of year, you will consider the salary income of previous owner also. And you can will consider the Investments also in that certificate itself, as in first case there was only two months salary, so not falling in TDS in first two months. In last ten months, you need to consider all these things.
Message likes :
1 times
29 May 2009
ok sir
thanks
thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
