Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

Tds deduction for salary

Amit Kumar (Accountant) (276 Points)

08 July 2014

Dear All,

We have hire a employee from july 1-2014 and how to caluclate tds on salary package is 440000Annumn

please tell me how to calculate the tds

Thanks in Advance

Amit Kumar

Reply
Follow
Share

4 Replies

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 08 July 2014

Pl refer this: /articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp

Thanks

Upgrade to CAclubindia Pro. Subscribe Now!

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 08 July 2014

calculate tax payable on 440000 less deduction admissible, amd then divide it by 12 months. this way you will arrive at amt of tds reqd to be deducted from salary every month.

CA Vipul (Senior Auditor) (94 Points)
Replied 09 July 2014

For calculation of TDs on salary u require to consider salary paid by you & paid by previous employeer.

so salary payable by you is Rs. 44000*9 = 396000 add previous employeer's salary.

Kannan Murali (ARTICLE ASSISTANT) (52 Points)
Replied 09 July 2014

Salary for 12 month = 440000 then less deduction admissible and less slab exemption (as the case may be) then divided by 12 months. you will get the amount of TDS per month.

if salary was 440000 for 12 months but he was worked only 9 months (FY 2014-15) ie, 9 months, so 36667*9=3,30,003 then less deduction admissible and less slab exemption (as the case may be) then divided by 9 months . you will get the amount of TDS per month.