Dear All, Can anyone please let me know how exactly the TDS is deducted from a salary of an employee? It is urgent. Also let me know the current rate for the financial year 2011-12. Thanks
From India, Pune
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From India, Pune
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TDS Deduction from Employee Salary
TDS is deducted every month from the salary of the employee.
For Individual Male Less Than 60 Years:
- Up to 180,000: Nil
- 180,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual Female, Age Less Than 60 Years:
- Up to 190,000: Nil
- 190,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual, Age More Than 60 Years (Senior Citizen):
- Up to 250,000: Nil
- 250,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual, Age More Than 80 Years (Super Citizen):
- Up to 500,000: Nil
- 500,001-800,000: 20%
- 800,001 & above: 30%
Regards,
Manjay
[Email Removed For Privacy Reasons]
Malay Gauri Consultants Pvt Ltd
From India, Mumbai
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10TDS is deducted every month from the salary of the employee.
For Individual Male Less Than 60 Years:
- Up to 180,000: Nil
- 180,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual Female, Age Less Than 60 Years:
- Up to 190,000: Nil
- 190,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual, Age More Than 60 Years (Senior Citizen):
- Up to 250,000: Nil
- 250,001-500,000: 10%
- 500,001-800,000: 20%
- 800,001 & above: 30%
For Individual, Age More Than 80 Years (Super Citizen):
- Up to 500,000: Nil
- 500,001-800,000: 20%
- 800,001 & above: 30%
Regards,
Manjay
[Email Removed For Privacy Reasons]
Malay Gauri Consultants Pvt Ltd
From India, Mumbai
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Well, "deshprucha," TDS deduction is the liability of the employer, and it should be deducted every month from the employee's monthly acquired salary. "Metaflex" has explained the tax slab for the Financial Year 2011-12. So, just calculate the employee's "Gross Income" and after making deductions for "Tax Saving Factors," calculate the "Taxable Income" and "Tax" using the "Tax Slab." That will be your TDS figure after dividing it by 12 (as months) and submitting it online.
From India, Jaipur
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From India, Jaipur
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