PRIME SPONSOR - FACTOHR - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS. Explore Features
I am new, so bear with me.
3 questions:
1) Let's say a person earns Rs 30000 gross salary per month (including HRA, medical allowance, etc.), so when preparing his monthly payslip, do I deduct Rs. 250 (income tax) from his salary of Rs.30000? 10% income tax for those earning Rs. 30000 per month (or 3.6 lacs per year), so Rs.3000 per year for this person, which would amount to Rs.250 per month. Is this the way it is done, or is it only done yearly? I am asking because I need it ONLY FOR MONTHLY PAYSLIP. Is this deduction okay, that is, subtracting Rs. 250 from Rs. 30000 equaling Rs. 29750.
2) Profession Tax in chennai - what is it, and how to calculate/deduct? Is it mandatory?
3) Anything else mandatory? The company has less than 20 employees, so I don;t need PF or ESI, but is there anything else mandatory?
Please help regarding this.
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Hi Artisttt,
While Calculating Income Tax. The Exemptions and deductions must be Considered . We have attacched The Income Tax Calculator for FY-13-14, You Can Use.
Professional Tax is applicable in Chennai and it shuld be paid.

Attached Files
Membership is required for download. Create An Account First
File Type: xls Tax Calculation.xls (56.5 KB, 416 views)

I have constructed a house taking home loan.The property is jointly owned by me and my mother.But the loan amount is only being served by me.I am also claiming income tax deduction for Home loan interest.
My question is that I am receiving HRA from my organisation. Kindly advise whether I can claim HRA paid to my mother (as she is the joint owner of house) while staying in the same house.
Amit Kumar Singla
PRIME SPONSOR - TALENTEDGE "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA. View Courses
Add Reply Start A New Discussion

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™