Answer Posted / deepak chikane

The TDS Slab is,

Upto Rs.150000 - No TDS (Nil)

From 150000 to 300000 - 10%(TDS rate)
Education cess - 3%

From 300001 to 500000 - 20% (")
Education cess - 3%

Above 500000 - 30 (")
Education cess - 3%

For Ex: Mr.X Earning Rs.250000 per year. TDS sholud be
deduct from his salary.

TDS Calculation:

RS.250000/12=20833.3

Upto Rs.150000 no TDS will be deducted.

Taxable amount up to 150000
so its come to First slab
100000*10=10000

Add Edu.Cess3%= 300
Total = 10300

TDS deduction per Month is, 10300/12 = Rs.858.33
The Net Salary of Mr.X is,

20833.3-858.33= Rs.19974.96

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