I want to know the TDS deduction if the package is 6 LPA then how TDS will be deducted,it is for gross CTC or applied only on basic salary Please explain Akshay Kaushal
From India, Indore
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From India, Indore
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In India, Tax Deducted at Source (TDS) is calculated based on the total income of an individual, not just the basic salary. For a 6 LPA package, the TDS deduction will be computed on the total income, which includes basic salary, allowances, bonuses, and any other taxable components. The employer will deduct TDS each month based on the applicable tax slab rates. To calculate the exact TDS amount, consider factors like investments, deductions, and exemptions that can lower the taxable income. It's crucial to review Form 16 provided by the employer at the end of the financial year to ensure accurate TDS deductions and compliance with tax regulations.
From India, Gurugram
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54From India, Gurugram
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Income Tax Calculation 2009-10 - Salaries.xls