Sr. Manager Hr/admin
Intergrated Management Systems And Process
As far as the Income Tax act employer has to deduct the TDS and pay to the government. The based on the slabs we will not be in a position to deduct tax. There are various calculations for IT. Those are HRA Exemption, Medical Allowance, Conveyance Allowance, Savings under various provisions.
23rd April 2013 From India, Bangalore
The meaning of TDS is Tax Deducted at Source. Therefore the employer has to deduct tax and pay to the government as well as file timely returns for the same. For details on income tax please visit - incometaxindia.gov.in
24th April 2013 From India, Mumbai
TDS is applicable for all the companies. And one more important is As per newly introduced section 206AA, in case PAN is not submitted TDS will be deducted at flat rate of 30.9% .
mail me to i will share tax slabs.
25th April 2013 From India, Hyderabad
Regarding calculation of TDS first the expcted Investments & Savings (projections) of the employees has to obtained [Including Housing Loan & Education Loan (Int Paid) whose Principal & Interest are exemptable under IT upto a certain extent]
So deduct the savings and Investments from the Projected annual salary and finally deduct the TDS at the applicable rates.
26th April 2013 From India, Hyderabad