Hi, I joined a new company in the last week of December and have received my January and February salaries so far. No tax was deducted in January as they mentioned that the tax would be deducted collectively in February. However, a significant amount of tax has been deducted in February, and I am confused about it. My fixed pay is 9 Lakhs per annum, and my variable pay is 90,000.
I am attaching screenshots of my January and February salary slips. Could you please help me understand why such a large amount of tax has been deducted in February?
From India, Bengaluru
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I am attaching screenshots of my January and February salary slips. Could you please help me understand why such a large amount of tax has been deducted in February?
From India, Bengaluru
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You have to ask your payroll manager to explain the deductions and its basis. He will be able to explain it, since its he who has d ducted if.
From United+States, San+Francisco
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9From United+States, San+Francisco
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Before January, were you working with another company? What was the salary there? Were any TDS deductions made? If so, did you submit Form 16 to your new company? Have your investments been accounted for in tax calculations? There are many aspects to consider for tax calculation. It is advisable to consult a tax consultant who would not charge more than Rs. 1500 for your return filing and other needs, such as providing a few small pieces of advice.
From India, Ahmadabad
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From India, Ahmadabad
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Sample of Pay Slip.zip
Salary slip final.xls