Sachin Rajput (account exe) (593 Points)
12 January 2012Dear All,
There is a problem regarding tds on salay. A employee whoes salary is 58000 per month has left job.she worked only five months (Aug-Dec) Her total salary is 58000*5=290000/-
as per income tax total rebate is 190000 in a year for female.But as per she worked only 5 months so what whould be rebate for her-
1) 190000*5/12=79167
Or
2) 190000
and i dont know about her last working......
Please help me its urgent
Thanks
Vineet Goyal
(Assistant Manager - Finance & Accounts)
(702 Points)
Replied 12 January 2012
190000/- should be the rebate
Sachin Rajput
(account exe)
(593 Points)
Replied 12 January 2012
so sir when we will issue form 16 then what details will be mention
Ritesh khurana
(CA student)
(175 Points)
Replied 12 January 2012
asked to show her previous income to u. consider that
if did nt get , then consider maximum premissible limit i e 190000
Deepak Singh
(Accountant)
(22 Points)
Replied 12 January 2012
sir i want format salary pls give how to create. just like one stuff salary 24000 the how to bifurcate noe this amount to save tax of employee
Deepak Singh
(Accountant)
(22 Points)
Replied 12 January 2012
basic +DA+convyance +HRA + medical, sir give me % rate of Rs. 24000/-
Ramanuj
(Accountant.)
(834 Points)
Replied 12 January 2012
Mr. Sachin please give details of Salary 58000/- P.M. she job only 5 months. Have any previous income yes or not if no then she join on August than Estimate tax calculation should be from August to march 58000/- *10=580000.00 -8000-579200.00=389200*10.3%=40088.00/12 =3341 per months Deposit TDS on Salary u/s 192. If any no investment dedcution u/s 80C. she left job for 5 months 58000*5=290000.00-190000.00= 100000.00 @ 10.3% 10300.00 I think exess deposit tax on 3064/- becouse i didnot she left job in five months. so that any campany tax liabilty on salary estimated.
CAclubindia
