How to calculate TDS for a salaried person? and want to know other allowance amount( Overtime , National Holiday Wages , Bonus ) will add for calculating TDS ?
What is the TDS Percentage?
3 Replies
ajith
(CA final student)
(51 Points)
Replied 17 June 2017
TDS on salary is based on average rate of tax on total income, actually everything which comes under the head salary is liable to tax deduction.visit this link for clarification https://www.charteredclub.com/tax-on-salary
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 17 June 2017
Employer paid to emplyee i.e. if there is employer and employee relationship then any payment like salary, Bonus, Commission, Incentive, Over Time whatever named called it's taxable under income chargeable under the Head "Salary", So TDS will be attract U/s 192 according to Income Tax Slab as Salary income......
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 17 June 2017
agreed with above both answer.
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