Please mention the procedure of Deducted TDS on Salary?
If My Salary is Rs.250000/- PA. than how to deduct TDS on it?
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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
| Is This Answer Correct ? | 65 Yes | 10 No |
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