I would like to know, if some employee has taken 3 days of LWP ( Leave Without Pay), will it affect it's professional tax and TDS ?
The employee's gross monthly income is 44250 for which her TDS is coming Rs.2758/month. Basic salary of the employee is 22000.
Calculation:
44250* 12= 531000
531000 - 200000 (IT Exemption) = 331000 (Taxable Income)
10% of 331000= 33100 ( Yearly TDS)
33100 / 12 = 2758
Please correct If this calculation is wrong.
The employee's gross monthly income is 44250 for which her TDS is coming Rs.2758/month. Basic salary of the employee is 22000.
Calculation:
44250* 12= 531000
531000 - 200000 (IT Exemption) = 331000 (Taxable Income)
10% of 331000= 33100 ( Yearly TDS)
33100 / 12 = 2758
Please correct If this calculation is wrong.