Jeevarathnam
Sr. Manager Hr/admin
Yashwanthyashy
Hr Executive
+1 Other

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Dear All ,
Please Inform Me Whether Income tax is applicable in this Situation or not.
Employee joined on 1 April 2012
Salary =25000 per months
Gujarat Slab Tax Payable
3000 - 6000 20
6000 - -9000 80
9000 - 12000 150
More than 12000 200
Inform me Whether the tax deduction will start from April or after one year when she will get full amount as 300000 (25*12)
please share Information about income tax monthly deduction.
Regards
Sneha Nair

Hi Sneha
I am not much clear.
I hope that tax slabs belongs to PT.
I feel for 3,00,000/- PA will not come under Tax brackets. Reason is
Her Total income shall be deducted on various grounds
a) Deduct Conveyance Allowance 800 X 12 = 9600/-
b) Medical Allowance 1250 X 12 = 15000/-
c) HRA Exemption as applicable
d) PT Deduction
e) PF Deductions under 80C

the above given information is for calculation of professional tax. The slab rates of professional tax and income tax and tax deducted at source is different.
Dear All ,
Please Inform Me Whether Income tax is applicable in this Situation or not.
Employee joined on 1 April 2012
Salary =25000 per months
Inform me Whether the tax deduction will start from April or after one year when she will get full amount as 300000 (25*12)
please share Information about income tax monthly deduction.

Regards
Sneha Nair

Hi Sneha.
TDS has to be deducted proportionately from March 2012 onwards. For Rs. 3,00,000/- No need of any Tax deduction. You can calculate TDS based on the CTC Structure. He/She may come close to the exemption.
As him/her whether he/she can give proof for savings under 80C, 80D or other savings under exemption.

Sneha,

Income Tax is Applicable on Salary = Rs 25000 per month. This is applicable from April 12 month on wards. How much income tax will be deducted every month depends on the following.

1) Salary Break up

2) House rent paid

3) Any investment

4) Male / Female

5) PF

If you provide above detail then I can let you know amount of Income tax to be deducted every month. It could be nominal amount based on detailed information provided.

In general, yes , Income tax is applicable on salary = Rs 25,000/- per month

Income tax slab for FY 12-13 is as under (For information and understanding):

New Income tax slab for fy 2012-13 / ay 2013-14

New Income Tax Slabs for ay 13-14 for Resident Senior Citizens above 60 years (FY 2012-13)

S. No. Income Range Tax percentage

1 Up to Rs 2,50,000 No tax / exempt

2 2,50,001 to 5,00,000 10%

3 5,00,001 to 10,00,000 20%

4 Above 10,00,000 30%

New Income Tax Slabs for ay 13-14 for Resident Senior Citizens above 80 years (FY 2012-13)

S. No. Income Range Tax percentage

1 Up to Rs 5,00,000 No tax / exempt

2 5,00,001 to 10,00,000 20%

3 Above 10,00,000 30%

New Income Tax Slabs for ay 13-14 for Resident Women (below 60 years) (FY 2012-13)

1 Up to Rs 2,00,000 No tax / exempt

2 2,00,001 to 5,00,000 10%

3 5,00,001 to 10,00,000 20%

4 Above 10,00,000 30%

New Income Tax Slabs for ay 13-14 for Others & Men (FY 2012-13)

1 Up to Rs 2,00,000 No tax / exempt

2 2,00,001 to 5,00,000 10%

3 5,00,001 to 10,00,000 20%

4 Above 10,00,000 30%

Thanks & Regards

Manjay Kumar Sharma | Senior Consultant | E-mail : | Skype ID : manjay.sharma73 |Mobile: +91- 98105 07200

Malay Gauri Consultants Pvt. Ltd

|Outsourcing and Consultancy URL: <www.malaygauri.com>| Human Resource URL: <MGcrpo >| Job portal URL: <www.nayeeraah.com> |

Sneha, Tax Declaration form will come in April. For more info can check
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