I need help in calculating TDS on CTC for Rs 1,00,000/pm and Rs 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 Rs 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 lakh 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 lakh 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 mentioned your PT as 200/- p.m., but later it is shown as 300/- p.m. Secondly, for HRA, you need to inform the Basic Salary. Also, are you staying in a Metro City or not?
In my earlier post, I sent you the Tax Calculator. Kindly input the existing Salary Structure to determine the TDS amount. Later, you can adjust the Deductions as per your preference and calculate the new TDS. The earnings are fixed by your Company, so you cannot change the structure. Most companies prefer to minimize the TDS burden 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 sent you the Tax Calculator. Kindly input the existing Salary Structure to determine the TDS amount. Later, you can adjust the Deductions as per your preference and calculate the new TDS. The earnings are fixed by your Company, so you cannot change the structure. Most companies prefer to minimize the TDS burden on their employees.
If you still require help, kindly forward the Salary Breakup for further guidance.
From India, Ahmadabad
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Salary Breakup alongwith TDS working and Computation A.Y. 13-14.xls