Confused About TDS Deductions on My Salary? Seeking Clarity and Tax Exemption Tips

Hi Friends, can anyone give some clarification on TDS? My current employer deducted some amount as TDS from my income. Is there any percentage for TDS deduction, and if so, is it from gross/net/basic? For example, if I get a monthly income of 35k, out of which 9k is basic, 6k is HRA, and the rest is service allowance, then what will be the TDS deduction and on what basis are they deducting it? Will it be considered during the IT returns? If there is an excess amount deducted, what should I do? Additionally, I need some ideas for tax exemption.

Regards, Kailash Manani

Clarification on TDS Deduction

Can anyone give some clarification on TDS? My current employer deducted some amount as TDS from my income. Is there any percentage for TDS deduction, and if so, is it from gross/net/basic? For example, if I get a monthly income of 35k where 9k is basic, 6k is HRA, and the rest are as service allowance, what will be the TDS deduction and on what basis are they deducting it? Will it be considered during the IT returns? If an excess amount is deducted, what should I do? Also, I need some ideas for tax exemption.

Regards

Damodar, every employer will provide Form 16 with all the details that are deducted at source as eligible tax. If any excess was deducted from the salary, it will also be shown in the Form 16, which is claimable from the IT department.

If TDS is deducted on salary, then the income tax slab for that assessment year will be applicable. You have not mentioned for which assessment year the employer deducted TDS. Please mention it.