TDS Is calculated on the basis of Total income of the employee for the financial year, which include Salaries, Bonus, Performance bonus..Etc.
In TDS , deductions under chapter VI (Sec 80C) we can have a exception of 1,50,000 of income ,if we show the insurance premium, children education, rent Etc.
Tax slabs :
0 to 250000- 0% of tax,
250001 to 500000-5% of tax,
500001 to 1000000-10 of tax,
>1000000-30% of tax.
Note: After the exception (if any,upto 150000), then only we can go for tax slab.
14th January 2019 From India, Hyderabad
PFB current TDS deduction slab:-
Now, reduce the maximum allowable income tax exemptions on a salary. Currently, income up to Rs.2.5 lakhs is fully exempt from paying taxes, while income from Rs.2.5 lakhs to Rs.5 lakhs is taxed at 10%, and Rs.5 lakhs to Rs.10 lakhs income bracket is taxed at 20%. All income above this amount is taxed at 30%
15th January 2019 From India, New Delhi
You have erroneously used word exception instead of exemption.
Correct Normal Rates of tax:
Total Income Rate of tax
1 Where the total income does not exceed Rs. 2,50,000/-. Nil
2 Where the total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-. 5 per cent of the amount by which the total income exceeds Rs. 2,50,000/-
3 Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-.
Rs. 12,500/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4 Where the total income exceeds Rs. 10,00,000/-. Rs. 1,12,500/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-
16th January 2019 From India, Thane