16-12-2007, 08:36 AM
|  | | | Join Date: Nov 2006 Location: Pune, India
Posts: 18
| |  Are Trainees subjected to Tax?
I have got a job recently and my designation is Management Trainee for the first 6 months and later will be assigned a department.
My company has given me the detailed breakup of my Cost To Company.
I would like to know whether I will be liable for paying tax as my designation is Mgmt. Trainee, though they shall be paying me my salary as mentioned in the Letter of Offer and not a stipend.
A reply would be highly valued.
Thank you |
16-12-2007, 09:00 AM
| | | | Join Date: Nov 2006 Location: New Delhi
Posts: 34
| | Re: Are Trainees subjected to Tax?
Dear Member,
Yes, you w be liable to pay tax provided you come in the tax bracket.
Santosh |
17-12-2007, 10:10 AM
| | | | Join Date: Aug 2007 Location: BANGALORE
Posts: 31
| | Re: Are Trainees subjected to Tax?
For government, it is what MONEY you take, not what it is categorized as, so if you are a male and draw 1,25,000 (1.5 L if female) and above a month, then u definitely come under the tax vracket |
17-12-2007, 11:32 AM
| | | | Join Date: Feb 2007 Location: Hyderabad
Posts: 350
| | Re: Are Trainees subjected to Tax?
As far as I Know, generally professtional tax is also not deducted to trainess, incase it is a stipend amount.
But if you are given a break up of the salary with deductions, then you will come under tax payer slab, provided your salary exceeds the tax limit.
I don't think there will be a speciall policy for trainees subject to this.
What say Friends.
Regards
Srilatha |
17-12-2007, 02:20 PM
| | | | Join Date: Dec 2007 Location: Ernakulam
Posts: 12
| | Re: Are Trainees subjected to Tax?
Hai ,
Yes, u are liable to pay tax, your employer will deduct the TDS as per the schedule from your salary.
In the sence of Salary head, employees have only very few option for tax redumption comparing to other heads.
Regards,
Linnan |
 | |
| |
Linear Mode
