Aa_somani
Accounts & Finance
Reetugour
Executive - Hr/admin
Amruta AB
Still Trying To Be An Expert
Khanna009
Hr Manager
Rohitkumarroy
Accountant
+2 Others

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
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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

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File Type: xls Book1.xls (21.0 KB, 4576 views)

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

Hi This might be useful for you for calculating tds IF any saving are there enter in 80c section to reduce the value.

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File Type: xls TDS.xls (31.0 KB, 2724 views)

Hello Shikha I am enclosing herewith one Computation you can calculate TDS accordingly.

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File Type: xls Computation A.Y. 13-14.xls (45.0 KB, 1854 views)

Hello Shikha you can try this attachment. it is helpful to calculate TDS Abhitkumar Parab 9422002885
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?
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
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.
Hello sir , please help me to computation of income tax for business or profession.
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