Answer Posted / vishal paul

Upto Rs.180000 - No TDS (Nil)

From 180001 to 500000 - 10%(TDS rate)

From 500001 to 800000 - 20% (TDS rate)

Above 800001 - 30% (TDS rate)

TDS Calculation:

RS.40000*12 = 4,80,000
Tax on Income Upto Rs.1,80,000 no TDS will be deducted.
So,Tax on the next 4,80,000-180000 = 300000
its comes under 2nd slab. [1,80,001 to 5,00000 = 10%]
so, 3,00000*10% = 30000/-
Income Tax Due 30000/-
Education Cess @3% 900/- (on income tax due)
So Total Tax payable 30000+900=30900
TDS deduction per Month is, 30900/12 = Rs2575/-

The Net Salary Decuted ,

40000-2575 = Rs.37425

FROM WHERE I WILL GET PREVIOUS QUESTION PAPER OF JUNIOR ACCOUNTS OFFICER TEST OF B S N L

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