Dear HR friends,
I want to understand how income tax calculated. As per my knowledge tax will be calculated as per doj and on gross correct me if am wrong.
Example : An employee joined in the month of Oct'13 and offered package is 380000 he is eligible for income tax?
my calculation as follows:
380000/6 - 63,333 (calculated as per doj) then he is out tax FY - 13.
Above calculation is right?
Kindly help me how to calculate.
Regards,
Dilep.A
I want to understand how income tax calculated. As per my knowledge tax will be calculated as per doj and on gross correct me if am wrong.
Example : An employee joined in the month of Oct'13 and offered package is 380000 he is eligible for income tax?
my calculation as follows:
380000/6 - 63,333 (calculated as per doj) then he is out tax FY - 13.
Above calculation is right?
Kindly help me how to calculate.
Regards,
Dilep.A