Asst. Manager - Hr
Assistant Engineer, Indian Telephone Industries,
Sr. Manager Hr
Hr Admin. In Recroitre Pvt. Ltd.
Generally in investment head you may deposit upto Rs. 100,000 for income tax exemption. This include the principal portion of housing loan. In addition, an infrastructuaral bond of Rs. 20,000 is exempted. Towards housing loan, interest portion upto Rs. 1,50,000 is exempted further. These are only some tips.
Regarding your case. Your annual income is 25000x12 = 3,00,000. Savings, 3000x12 = 36000. Balance - 300000-36000 = 2,64,000. Tax limit for male - 1,80,000 1nd for female - 1,90,000. If you are a female the tax will be 264000-190000 = 74000 x 10% = 7400. Cess @3% = Rs. 222. Total = 7622. (This can be calculated as 74000x10.3%, as you correctly wrote above.)
10th January 2012 From India, Bangalore
10th January 2012 From India, Mumbai
I would like to seek your guidance in this regard that TDS deduction shall be implemented in a company with how much minimum number of working employees and from what annual salary . Please shower some light on the raised question.
10th January 2012 From India, Chandigarh
TDS - Tax Deduction at source.
It is not related with number of the working employees rather it is related with the Income of the employee.
Suggest you visit any site related with income tax, please go through the Tax Slabs and rebate clause. (Please first know salried income)
11th January 2012 From India, Mumbai