Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2011 HI.
HOW CAN WE CALCULATE THE TDS IF SALARY ARE 2400000 P.A.PLS TELL ME THE CALCULATION ASAP

22 November 2011 For the Assessment Year 2012 - 13 the total tax liabilty is Rs.589160 inclusive of education cess.

22 November 2011 Search in files section for tax calculator.


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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2011 thks sir/mam,

can u explain in brife how can measure the tax liabilty is 589160?

22 November 2011 up to Rs.180000 no tax
next Rs.180000 - 500000
i.e Rs.320000*10% = 32000
next Rs.500001- 800000
i.e Rs.300000*20% = 60000
balance amount Rs.2400000-180000-320000-300000 or
Rs.2400000-800000 = Rs.1600000
i.e Rs.1600000*30% = 480000
therefore total amount = Rs.572000
(32000+60000+480000)
in that 3% education cess = Rs.17160
(572000 * 3%)
Therefore total liability = Rs.589160/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2011 thk you so much mam......

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Querist : Anonymous

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25 November 2011 HI.......GUD MNG EXPERT

ONE THING IF INDIVISUAL PERSON HAS BEEN RETURN ITR 2009-10 & FORM 16A NOT SHOWED IN THR SAME....IS WE CAN SHOWS 2009-10 TDS FORM 16A IN CURRENT RETUEN 2011-12? IS THAT POSSIBLE?

25 November 2011 In case income is shown in the current year then TDS could be claimed in the current year as per section 199.

However now due to centralised processing it would be difficult to get tax credit for earlier years.


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Querist : Anonymous

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26 November 2011 thk u sir...



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