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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.

From India, Chennai
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.

From India, Gurgaon

Attached Files
File Type: xls Tax Calculation.xls (56.5 KB, 418 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

From India, Delhi
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