answer to Q.1 in case of person having salary of 10000/- p.m., his taxable income without having any investment will be Rs. 120000/- and as per A.Y. 2008-2009 slab rate for individual person is Rs 110000/- i.e. his tax liability is on Rs. 10000/-i.e. 10000*10%=1000/-. we can divide it by 12 for calculating monthly deduction.
T.D.S. On Salary
Page no : 2
girish mangla
(practice)
(206 Points)
Replied 24 March 2008
Answer to Q-3 P.F. is deducted on basic salary of employees having Rs. 6500/- or less. Rate of PF deduction is 12% on employee's salary and 12.5% from employer's hand.
girish mangla
(practice)
(206 Points)
Replied 24 March 2008
Answer to Q-4 There is no slab rates for deduction of PF. It is deducted at flat rate of 12%p.a.
girish mangla
(practice)
(206 Points)
Replied 24 March 2008
Answer to Q-5 any person can deduct PF if he has employed 20 or morethan 20 employees in his firm or business
girish mangla
(practice)
(206 Points)
Replied 24 March 2008
Answer to Q-7 interest is received @ 8.5% on employee's deduction and on employer's contribution.
Umashankar
(Account Assistant)
(20 Points)
Replied 25 April 2008
Hello, can u send me the format of salary computation with the slab rate of deductions.
sushil kadam
(service)
(0 Points)
Replied 06 May 2008
Kindly calculate annual income tax to be deducted for 2008-09 india for following
| BASIC | 6271 |
| HRA | 3763 |
| SPL ALLOWANCE | 5081 |
| CONVEYANCE ALLOWANCE | 800 |
| MEDICAL ALLOWANCE | 1250 |
| TOTAL | 17165 |
| (-)DEDUCTIONS | |
| PF | 753 |
| PROF TAX | 200 |
| 16212 |
Harish
(Student)
(30 Points)
Replied 23 May 2008
what is the contribution of P.F and what are the contribution of employers towards employe
Harish
(Student)
(30 Points)
Replied 23 May 2008
what is the contribution of P.F and what are the contribution of employers towards employe
Harish
(Student)
(30 Points)
Replied 23 May 2008
what is the contribution of P.F and what are the contribution of employers towards employe
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
