Dear Sir,
How to calculate TDS on salary?
2 Replies
Anjali
(Consultant)
(24 Points)
Replied 27 September 2019
you will have to calculate the total tax payable on the annual salary , if it exceeds the basic exemption limit at the applicable slab rates and on the basis of that you will deduct the TDS amount on salary
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 27 September 2019
Calculate the total taxable salary of the year. Deduct the eligible investment under Chapter VI A, then deduct home loan interest if applicable. On the balance calculate the tax payable and divide it with number of months to go till the March. This shud be deducted monthly from the salary paid each month.
If you receive fresh investment from employee then again recalculate the tax liability and deduct tax accordingly
If you receive fresh investment from employee then again recalculate the tax liability and deduct tax accordingly
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