if salary paid per month rs. 28000/- i will deduct tds from
his salary please what i will do explain
Answer Posted / rasji
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% (TDS rate)
Above 500000 - 30% (TDS rate)
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 2st slab.
so, 176000*10% = 17600
(Which is for one year)
Total TAX (One Year) = 17600
TDS deduction per Month is, 17600/12 = Rs.1467
The Net Salary of Mr.X is,
28000-1467 = Rs.26533/-
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