TDS on salary

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Accounts (Querist)
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06 March 2008 Can anybody suggest me the procedure of deducting TDS on Salary

Is HRA or investment in LIC are the part of computation of TDS on salary

kindly give me your valuable suggestion as soon as possible,
thank you

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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06 March 2008 Please refer to section 192

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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07 March 2008 YES HRA AND LIC ARE CONSIDERED FOR DEDUCTION OF TDS

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CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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07 March 2008 HRA U/s 10(13A) and LIC U/s 80C are part of computation.

Chintan Gajjar

Chintan Gajjar (Expert)
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07 March 2008 Yes. HRA & LIC Prem. paid are taken into consideration at the time of deducting TDS. TDS on Salary are deducted on actual basis asif we are making its assessment and finding out the net Income Tax payable by him.

R.V.RAO

R.V.RAO (Expert)
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07 March 2008 YES ,THE EMPLOYER IS ENTITLED TO VERIFY AND ALLOW THE ELIGIBLE DEDUCTIONS TO THE EMPLOYEE FOR TDS PURPOSEINCLUDING LIC, HRA,EVEN HOUSING LOAN DEDEUCTIONS.
ACCORDINGLY THE EMPLOYER DEDUCTS TDS AND ISSUE FORM 16 .
R.V.RAO

CA Pattanayak

CA Pattanayak (Expert)
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08 March 2008 Hi,
you have to consider the approx salary for the year for deducting tax. You should consider HRA, LIC premium for calculating tds.

Consider approx salary for the year. then calculate tax and divide the total tax with no of month left n that will be your monthly deduction.