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Tds on salary

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08 December 2012 IF A PERSON IS GETTING A SALARY OF 7 LAC . HOW MUCH AMOUNT OF TDS WILL BE DEDUCTED BY EMPLOYER.
PLEASE GIVE CALCULATION

REGARDS
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
08 December 2012 If Rs. 7 lakhs is net taxable salary then TDS per month would be as follows-

Rs. 200000 to Rs. 500000 @10%= 30000
Rs. 500000 to Rs. 700000 @20%= 40000
Total = = 70000
Add: edu.cess@3% = 2100
Total tax payable=70000+2100= 72100
TDS per month= 72100/12= Rs. 6008/-

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