12 June 2009
Lets considered example, my salary is 5L pa.
Salary structure is Basic Rs. 200000 HRA (40% of basic) Rs. 80000 Conveyance allowances Rs. 9600 Special allowances Rs. 210400.00 Total Rs. 500000.
Now tax calculations
Total salary Rs. 500000.00 Less : Exemption u/s 10 1. Conveyance allowance Rs. 9600 (as per 800 per month) 2. HRA Rs. 80000.00 (if he gives rent receipt of 8333 per month)
13 June 2009
Sir, thank you for assisting me. But Sir, I would like to know how is TDS (the Tax to be Deducted at Source is to be calculated for the respective due dates. Can you please explain that part?
CAclubindia
