I'm a newcomer to the accounts field. I have little knowledge of TDS on salary. Please suggest how and at what rate TDS will be calculated on salary. Kindly give me an example if possible.
- **For Income Between ₹0 to ₹1,60,000:** Tax Rate: 0%
- **For Income Between ₹1,60,001 to ₹5,00,000:** Tax Rate: 10%
- **For Income Between ₹5,00,001 to ₹8,00,000:** Tax Rate: 20%
- **For Income Above ₹8,00,001:** Tax Rate: 30%
Please let me know the calculation of TDS on salary, especially regarding the part of HRA, and what are the essential parts to be considered for the same on a priority basis.
Please help me; in the salary sheet, I want to add a TDS column from this month (August 2011) and want to deduct TDS at the prevailing/applicable rate. Please consider the following figures:
- Employee's basic salary is Rs. 9600, and the gross salary goes to around Rs. 16000.
- Employee's basic salary is Rs. 15000, and the gross salary goes to around Rs. 21000.
Please let me know how much to deduct per month.
Thanks, and it's urgent.
Regards
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute