I need help in calculating TDS on CTC for Rs 1,00,000/pm and 135,000/pm. If I could get the entire salary distribution along with TDS deductions, it would help. My accounts team at work currently says that my deductions (including TDS + PF@780 + PT@200) come to around 16,000 pm. Please suggest if this is correct. Thanks.
From India
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1From India
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Please provide the deduction details to ensure proper processing. There are income tax calculators available where you can input the details to calculate the TDS. Please find enclosed for your kind perusal.
From India, Ahmadabad
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From India, Ahmadabad
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The statutory deductions that apply are:
- PF @ Rs 780/month
- PT @ Rs 300/month
I can claim HRA as I am living in my parents' house, and they are senior citizens with no yearly earnings. Additionally, I will be investing around Rs 1 lac this year in a 5-year Fixed Deposit to avail tax deductions under 80C.
Please suggest how best I can break a CTC of Rs 1,25,000 + Rs 10,000 (variable average per month) = Rs 1,35,000 per month.
Thanks
From India
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- PF @ Rs 780/month
- PT @ Rs 300/month
I can claim HRA as I am living in my parents' house, and they are senior citizens with no yearly earnings. Additionally, I will be investing around Rs 1 lac this year in a 5-year Fixed Deposit to avail tax deductions under 80C.
Please suggest how best I can break a CTC of Rs 1,25,000 + Rs 10,000 (variable average per month) = Rs 1,35,000 per month.
Thanks
From India
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In your earlier post, you have written your PT as 200/- p.m., but later it is shown as 300/- p.m. Secondly, for HRA, you have to inform the Basic Salary. Also, are you staying in a Metro City or not?
In my earlier post, I have sent you the Tax Calculator. Kindly input the existing Salary Structure to know the TDS amount. Later, you can change the Deductions as per your desire and calculate new TDS. The earning is fixed by your Company, so you cannot change the structure. Most companies prefer less burden of TDS on their employees.
If you still require help, kindly forward the Salary Breakup for further guidance.
From India, Ahmadabad
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In my earlier post, I have sent you the Tax Calculator. Kindly input the existing Salary Structure to know the TDS amount. Later, you can change the Deductions as per your desire and calculate new TDS. The earning is fixed by your Company, so you cannot change the structure. Most companies prefer less burden of TDS on their employees.
If you still require help, kindly forward the Salary Breakup for further guidance.
From India, Ahmadabad
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Hi Rohit,
Here is one of the break-ups of the 125,000 + 10,000 that you can use for maximum take-home salary: Take home India 1.07 Lakh, CTC 16.19 Lakh, Year 2014 - AM22 Salary Calculator India.
You can also use the following suggestions to increase your take-home with the above breakup:
- You can invest Rs. 40,640 more to take full advantage of tax-free investment to lower your taxes. This will increase your monthly in-hand salary by Rs. 1,141.
- Pay monthly home rent of up to Rs. 45,000 and reduce your yearly tax by Rs. 138,560. It will also increase your monthly in-hand by Rs. 11,546.
- If you can provide the yearly medical bills of Rs. 15,000, you can save tax up to Rs. 4,635 and increase your monthly in-hand by Rs. 421.
Let me know if you need more information.
From India, Delhi
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Here is one of the break-ups of the 125,000 + 10,000 that you can use for maximum take-home salary: Take home India 1.07 Lakh, CTC 16.19 Lakh, Year 2014 - AM22 Salary Calculator India.
You can also use the following suggestions to increase your take-home with the above breakup:
- You can invest Rs. 40,640 more to take full advantage of tax-free investment to lower your taxes. This will increase your monthly in-hand salary by Rs. 1,141.
- Pay monthly home rent of up to Rs. 45,000 and reduce your yearly tax by Rs. 138,560. It will also increase your monthly in-hand by Rs. 11,546.
- If you can provide the yearly medical bills of Rs. 15,000, you can save tax up to Rs. 4,635 and increase your monthly in-hand by Rs. 421.
Let me know if you need more information.
From India, Delhi
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Salary Breakup alongwith TDS working and Computation A.Y. 13-14.xls