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if salary paid per month rs. 28000/- i will deduct tds from
his salary please what i will do explain
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Answer / sathees
the following steps are followed by employer
1. Monthly salary converted to yearly.
ie.28000x12 = 336000/=
then, yearly total PF contribution by employees should
deducted from gross salary u/s 80ccc
and any savings LIC, 5 years postal saving, etc taken to
consideration. The saving limit upto 100000/- should taken
u/s 80
and the employee getting any HRA exemption that also
deducted.
after that we can see the net salary is taxbale salary as
per the income tax slab rules.
ie, upto 160000 - nil
160000- 300000 -10%
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