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[ praveenr22 ] (Contributing Member)
Hi All, I am praveen from bangalore.My company has deputed some of our candidates in LGSI.We pay salary to them which is reimbursed by LGSI. Should they deduct TDS on it or it is case where TDS is not applicable for reimbursement of expenses and whether service tax is applicable for reimbursement of food expenses.
[ SandhyaMukunda ] (Contributing Member)
Hi Vandana, An employee drawing Rs. 25000 pm as salary, Employer has to deduct TDS assuming that he don't have any investments done. Other thing, once the employee joins pls take from him Investment declaration form. Based on the Investment made, you will know what would be the amount of deduction. Thanks Sandhya
[ SandhyaMukunda ] (Contributing Member)
Hi Praveen, Salary Payment made to employees, reimbursed by LGSI may be treated as professional receipts. TDS has to be deducted by LGSI for payment of professional charges. Service tax is not applicable on reimbursement of food expenses. Regards Sandhya
[ gopalsvim ]
Total Take home Amount 25000 X 12 =300000 Up to 160000 no tax 160001 to 300000 : 10% 300001 to 500000 : 20% Above 5000000 : 30% 160000-300000= 140000 140000*10/100 = 14000 14000*2/100 = 280 14000*1/100 = 140 Total Taxble Amount = 14,420.00
[ perpetborges ]
Hi!! My employee is being paid take home salary as Rs. 70K per month. To my knowledge, he'll need to pay TDS at the rate 0f 30.3%. Now, if he produces house rent receipts amounting to Rs. 16K per month as for HRA exemption, Rs. 1250 as medical, how much TDS he'll need to pay now?? Please provide me with calculations. My email ID: Found This Useful? +Vote Up This Page Via Google. Why Vote? User validation is extremely important for good content to prosper. | 7650 views5 replies Knowledgebase Categories Popular Discussions |
SALARY with out PF Deduction.xls
BASICS OF TDS ON SALARY-1.doc
