Hi Can anyone Please Guide me How to Calculate Income Chargeable under the head Salary from payslips.Does all the Allowances are exempted from income chargeable under the head Salary?.I Mean HRA,CA,SPECIAL ALLOWANCE,MEDICAL ALLOWANCE,FOOD COUPONS,LTA. If not,its Limits. Thanks in Advance.
6 Replies
Amit Kumar
(Accountant)
(276 Points)
Replied 11 April 2014
Varma ji
please find the attachment for u solutions
Amit Kumar
(Accountant)
(276 Points)
Replied 11 April 2014
Varma ji
please find the attachment for u solutions
Attached File : 562580 1307210 tds on salaries.pdf downloaded: 610 times
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 11 April 2014
just calculate taxable salary and calculate tax liability with education cess and devide that figure by 12 to know the monthly TDS to be deducted.
salary means basic , DA, CCA, Special allowance, HRA, Conveyance allowance etc.
AND taxable salary means salary as given above minus exemption from allowances and 80C to 80U deductions.
BABU HUSSAIN
(ACCOUNTANT )
(22 Points)
Replied 11 April 2014
dear Sir, my claint excess TDS deducted from slary on the the finalcial period . and he filed the return the IT deprtment sent demand notice for non payment of tax on the finalcial year. but TAx deducted and issued the forn 16. how its possible of tax due of my claint. and how can claim the refund. please tell me the way
Hussain
Amit Kumar
(Accountant)
(276 Points)
Replied 11 April 2014
Dear
Babu Hussain
if access TDS Deducted and you have issued form 16 to the employee yes u can claim for further tds deposited but u need for that digital signature facilities to this and please see the attach file for detail
Attached File : 562580 1307295 tds refund process and option.pdf downloaded: 272 times
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