Hello Every one,
I would be glad if any one could help me out how to calculate TDS on the following salary structure..
Basic Pay : 3,60,000
HRA : 1,80,000
Conveyance Allowance: 9,600
Special Allowance: 1,70,400
PF @ 12% Employers Contribution: 9,360
Total Cost to Company (CTC): 7,29,360
Regards,
Shikha Godiyal
From Canada, Toronto
5I would be glad if any one could help me out how to calculate TDS on the following salary structure..
Basic Pay : 3,60,000
HRA : 1,80,000
Conveyance Allowance: 9,600
Special Allowance: 1,70,400
PF @ 12% Employers Contribution: 9,360
Total Cost to Company (CTC): 7,29,360
Regards,
Shikha Godiyal
From Canada, Toronto
Hi you can try this attachment. it is helpful to calculate TDS another thing, check PF amount as it would be 12% of basic Txs
From India, Delhi
From India, Delhi
Suppose take member asB.Sagar
SL No Descriptions Actual Gross Salary Per Month No of Month Gross Salary Per Year
1 23,000.00 12 276,000.00
Less: Professional Tax 200.00 12 2,400.00
Providend Fund 780.00 12 9,360.00
Conveyance 800.00 12 9,600.00
Hra 2,600.00 12 31,200.00
Less: U/S 80 C :-
-
Total Amount 52,560.00
Balance Amount 223,440.00
Income Tax Slabs for F.Y. 2012-2013
Up to 2,00,000.00 Nil 200,000.00
2,00,001.00 to 5,00,000.00 10.00%
5,00,001.00 to 10,00,000.00 20.00%
>10,00,001.00 30.00%
Balance Taxable Amount 23,440.00
Tax Amount 2,344.00
Surcharge @ 3% 70.32
Total TDS Deductable 2,414.32
TDS Deductable P/M 201.19
From India, Hyderabad
SL No Descriptions Actual Gross Salary Per Month No of Month Gross Salary Per Year
1 23,000.00 12 276,000.00
Less: Professional Tax 200.00 12 2,400.00
Providend Fund 780.00 12 9,360.00
Conveyance 800.00 12 9,600.00
Hra 2,600.00 12 31,200.00
Less: U/S 80 C :-
-
Total Amount 52,560.00
Balance Amount 223,440.00
Income Tax Slabs for F.Y. 2012-2013
Up to 2,00,000.00 Nil 200,000.00
2,00,001.00 to 5,00,000.00 10.00%
5,00,001.00 to 10,00,000.00 20.00%
>10,00,001.00 30.00%
Balance Taxable Amount 23,440.00
Tax Amount 2,344.00
Surcharge @ 3% 70.32
Total TDS Deductable 2,414.32
TDS Deductable P/M 201.19
From India, Hyderabad
Hi This might be useful for you for calculating tds IF any saving are there enter in 80c section to reduce the value.
From India, Hyderabad
From India, Hyderabad
Hello Shikha I am enclosing herewith one Computation you can calculate TDS accordingly.
From India, Pune
From India, Pune
Hello Shikha you can try this attachment. it is helpful to calculate TDS Abhitkumar Parab 9422002885
From India, Mumbai
From India, Mumbai
Hi,
Can any body help me? The performance incentive / sales incentive part is also added into your gross salary while calculating taxable income?What about annual ex gratia payment we get from the company?
From India, Pune
Can any body help me? The performance incentive / sales incentive part is also added into your gross salary while calculating taxable income?What about annual ex gratia payment we get from the company?
From India, Pune
Hi Amruta, Annual Bonus or Ex-gratia payments are also form part of remuneration / income from salary and must be included for IT computation. Rgds, S. Dass
From India, Bangalore
From India, Bangalore
Dear Shikha,
Based on your inputs given, I have calcuated the TDS. The TDS amount comes to Rs.30000/- It is arrived considering he/she will stay in a rented house and pays rent of Rs.12000/- pm. And also makes an investment of Rs.1.00 lac including his PF contribution of Rs.9360/-.
Gross Salary 720000
Less HRA 108000
Less: Conv 9600
Less: Prof Tax 2400
Sub Total 120000
Gross Total Income 600000
Less: PF Contribution 43200
Less Investment 56800 100000
Taxable Income 500000
1-200000 Nil
200001-500000 10% 30000 Taxable Amount
Hope this is clear now.
From India, Bangalore
Based on your inputs given, I have calcuated the TDS. The TDS amount comes to Rs.30000/- It is arrived considering he/she will stay in a rented house and pays rent of Rs.12000/- pm. And also makes an investment of Rs.1.00 lac including his PF contribution of Rs.9360/-.
Gross Salary 720000
Less HRA 108000
Less: Conv 9600
Less: Prof Tax 2400
Sub Total 120000
Gross Total Income 600000
Less: PF Contribution 43200
Less Investment 56800 100000
Taxable Income 500000
1-200000 Nil
200001-500000 10% 30000 Taxable Amount
Hope this is clear now.
From India, Bangalore
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TDS circular.pdf
Format--new TDS rates.xls
BASICS OF TDS ON SALARY-1.doc