I am working as an HR generalist. One of our employees' gross salary is 30,000/- per month. Now, he will come under the head of TDS. Please tell me how to calculate TDS. Also, I have heard that if we consider some amount as an Allowance (where this allowance will be tax-free), then there will be no TDS in such consideration. But I don't exactly know what allowance that is. I request seniors to help me get a clear picture of TDS.
From India, Bengaluru
Acknowledge(0)
Amend(0)
From India, Bengaluru
Acknowledge(0)Amend(0)
Hi,
Tax is always considered on the taxable income only received in any financial year from April to March. The exemptions are:
- Conveyance allowance of 1600/- per month
- Medical allowance of 1250/- per month
- HRA based on the location: 40% on the basic for Metro areas and 30% for Non-metro areas.
You may also need to consider the employee's savings and housing loan, if any.
If you need more details, I have a TDS calculator in Excel that I can share with you.
From India, Bangalore
Acknowledge(0)Amend(0)
653Tax is always considered on the taxable income only received in any financial year from April to March. The exemptions are:
- Conveyance allowance of 1600/- per month
- Medical allowance of 1250/- per month
- HRA based on the location: 40% on the basic for Metro areas and 30% for Non-metro areas.
You may also need to consider the employee's savings and housing loan, if any.
If you need more details, I have a TDS calculator in Excel that I can share with you.
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PT,ESIC,TDS,FBT ,S[1][1].Tax Calculator.xls