Tds calculation
Kr shijo (Audit staff) (42 Points)
29 March 2017
how to calculation tds for salary and contract, profession , interest received
1 Replies
Diamond Goyal
(Finance Accounts Taxation & Auditing)
(90 Points)
Replied 29 March 2017
1. TDS on salary will be calculated as per normal slabs(10%, 20% or 30%) of income tax after deduction u/s 80c-80u and total tax amount will be divided by service period. (refer section 192)
2. TDS on profession will be deducted @ 10% on the basic amount of the service bill. (refer section 194-J)
3. TDS on Interest on other than securities will be deucted @ 10% on the amount of interest. (refer section 194-A)
Note- These are the general and normal rates and may differ depended as per the different situations.
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