if salary paid per month rs. 28000/- i will deduct tds from his salary please w

Categories >> Accounting >> Accounting AllOther
Suggest New Category

if salary paid per month rs. 28000/- i will deduct tds from
his salary please what i will do explain

Question Posted / sathysuresh

17 Answers
84424 Views
3C Three C, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / savithri natarajan

The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10.3%(TDS rate)

From 300001 to 500000 - 20.3% (")

Above 500000 - 30.3% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 186000*10.3% = 19158 (Which is for one year)

TDS deduction per Month is, 19158/12 = Rs.1596.5

The Net Salary of Mr.X is,

28000-1597 = Rs.26403/-

Is This Answer Correct ?

337 Yes

120 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / manish kumar

The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10.3%(TDS rate)

From 300001 to 500000 - 20.3% (")

Above 500000 - 30.3% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.

Taxable amount up to 3lakh
so its come to First and second slab
150000*10%=15000
And Next 36000*20%= 7200
TAX = 22200
Add Edu.Cess3%= 666
Total = 22866

TDS deduction per Month is, 22866/12 = Rs.1905.5

The Net Salary of Mr.X is,

28000-1906 = Rs.26094/-

Is This Answer Correct ?

173 Yes

83 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / manikandan

New Tds rate on 1st Oct.2009
(Edu, cess not applicable )

Upto Rs.160000 - No TDS (Nil)

From 160000 to 300000 - 10%(TDS rate)

From 300001 to 500000 - 20% (")

Above 500000 - 30% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.160000 no TDS will be deducted.
So, 336000-160000 = 176000
its comes under 1st slab.
so, 140000*10% = 14000
(Which is for one year)

And Next 36000*20% = 7200

TotalTAX = 21200

TDS deduction per Month is, 21200/12 = Rs.1767

The Net Salary of Mr.X is,

28000-1767 = Rs.26233/-

Is This Answer Correct ?

41 Yes

15 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / jagmohan

The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10%(TDS rate)

From 300001 to 500000 - 20% (")

Above 500000 - 30% (")

For Ex: Mr.X Earning Rs.28000 per month. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.28000*12 = 336000
Upto Rs.150000 no TDS will be deducted.
So, 336000-150000 = 186000
its comes under 1st slab.
so, 150000*10% = 15000
(Which is for one year)

And Next 36000*20%= 7200
TAX = 22200
Add Edu.Cess3%= 666
Total = 22866

TDS deduction per Month is, 22866/12 = Rs.1905.5

The Net Salary of Mr.X is,

28000-1906 = Rs.26094/-

Is This Answer Correct ?

68 Yes

44 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / satyanarayana raju

Hullow mr Jagmohan and Manish Kumar both of your
explanations are not correct. The question is lack of
clarity. He didnt clear it as gross salary or Nett salary.
The nett if exceeds 1,50,000 attracts tax. You pl note the
basic exemption is 1,50,000. In addition to that exemptions
under Section 10 and Chapter Vi were there. If planned
correctly taking all the provisions into consideration a
salried individual need not pay a single paisa if his nett
income exceeds even 4,35,000/-Pl send your mail.id I will
send you a Lay Man tax plan to avoid tax burden

Is This Answer Correct ?

35 Yes

16 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / chetan

Is This Answer Correct ?

36 Yes

17 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / amol

if salary paid per month rs. 20000/- i will deduct tds from
his salary please what i will do explain

Is This Answer Correct ?

24 Yes

7 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / suresh

He is getting salary Rs. 28000/- P.m from april to Oct.
deducted TDS Rs. 1906/- pm Now salary paid per month rs.
35000/-(w.e.f Nov.09) how will deduct tds from
his salary please what i will do explain

Is This Answer Correct ?

21 Yes

13 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / jimil

Mr. Satyanarayana Raju Sir, Above you were talking about that If planned
correctly taking all the provisions into consideration a
salried individual need not pay a single paisa if his nett
income exceeds even 4,35,000/-,
Can you please send me how it is possible in detail.
My e-mail ID is s.jimil.1985@gmail.com

Is This Answer Correct ?

15 Yes

10 No

if salary paid per month rs. 28000/- i will deduct tds from his salary please what i will do explai..

Answer / umesh

Is This Answer Correct ?

5 Yes

2 No

Post New Answer

More Accounting AllOther Interview Questions

Actually we had Posted P.V.C bills to Indian Railway the total bills amount is Rs.10,00,000/-, and government had passed only Rs. 8,00,000/- and gov. had said that there are no more P.V.c bills are lying outstanding in their a/c, so for now are claiming Rs. 2,00,000/- as loss on sale, i m totally confused what would be the impact on the Profit and loss a/c , and in which group it will come,if I do a entry of:- dr. Central sale @12.5% a/c Rs.2,00,00/- Cr. Loss on sale a/c Rs.2,00,000/- or Will i adjust the Cst@12.5% on Pricipal Value, or will i pass on the entry on total amount i.e Rs.2,00,00/- Plz guide,me soon.

4 Answers

What is a Balance Sheet & Profit & Loss Account?

0 Answers

A borrower pays $1000 towards the late payment penalty to a bank A pass the necessary journal entry

2 Answers Ocwen,

Answered but misspelled pl correct HELPS US TO KNOW THE FINANCIAL POSITION OF THE BUSINESS (ANS.EEECNALABSHT)

1 Answers

What is the working formula for Debt Equity ratio

2 Answers

what is credit note and debit note?

5 Answers

Short Answer on _________National Debt

1 Answers

what are the different causes for discrepencybetween the balance of cash book and pass book

0 Answers

Explain the effect of closing stock on gross profit and net profit. comment on the financial health of their business.

2 Answers

state wheather the following statements are true or false i, the issue of shares ata discount must be authorized by a special resolution of company. ii, operating or finance lease comes under provision of as- 13 iii, at the end of the accounting period the balance of "goods sent to branch account" is transfered to trading acount iv, for life business premium is to be recognized on receipt basis v, a banking cannot grant any loans on securities of its own shares

2 Answers

what is mean by MIS?

21 Answers

What are the General Ledgers?

2 Answers

For more Accounting AllOther Interview Questions Click Here