Dear All,
Could you please tell me how to calculate the TDS for the employees? I have been working on PAYROLL for 4 years, but this part has been maintained by the accounts department. Now, I need to learn the formula/slab completely to calculate the TDS, especially when calculating SALARY, including performance-based incentives in an IT firm.
Please reply soon.
Email: balaram_hr@yahoo.co.in
Phone: 91 9247744980
Thank you.
From India, Visakhapatnam
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4Could you please tell me how to calculate the TDS for the employees? I have been working on PAYROLL for 4 years, but this part has been maintained by the accounts department. Now, I need to learn the formula/slab completely to calculate the TDS, especially when calculating SALARY, including performance-based incentives in an IT firm.
Please reply soon.
Email: balaram_hr@yahoo.co.in
Phone: 91 9247744980
Thank you.
From India, Visakhapatnam
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Dear Balaram,
The best way to learn how to deduct TDS from your employees' salaries, in your case, would be to sit with your accounts team while they calculate the TDS amounts for a few employees. Then, you can learn to do it yourself.
Alternatively, you can visit the Income Tax Department's site to download the income tax deduction sheet to calculate the exact income tax for each of your employees and deduct the same from their salaries.
Regards,
Samba Siva.
From India, Hyderabad
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The best way to learn how to deduct TDS from your employees' salaries, in your case, would be to sit with your accounts team while they calculate the TDS amounts for a few employees. Then, you can learn to do it yourself.
Alternatively, you can visit the Income Tax Department's site to download the income tax deduction sheet to calculate the exact income tax for each of your employees and deduct the same from their salaries.
Regards,
Samba Siva.
From India, Hyderabad
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Income Tax Calculation 2009-10 - Salaries.xls