Guys:
I have few queries which i need your valuable responses at the very earliest
1. What is the percentage of TDS to be deducted for the Consultant ( To my knowledge it is 5.33% but heard that there has been a chhange in it, please let me know)
2. What is the formula for calculating the Earned Leaves (EL) and is it calculated on Gross or Basic
Early respponses would help lot
Thanks,
- Mirza
From Saudi Arabia, Jiddah
18I have few queries which i need your valuable responses at the very earliest
1. What is the percentage of TDS to be deducted for the Consultant ( To my knowledge it is 5.33% but heard that there has been a chhange in it, please let me know)
2. What is the formula for calculating the Earned Leaves (EL) and is it calculated on Gross or Basic
Early respponses would help lot
Thanks,
- Mirza
From Saudi Arabia, Jiddah
Hi Mirza, I think that now the TDS deduction is 10.3% and i am not sure about EL... Regards, Saravana
From India, Madras
From India, Madras
Hi Mirza,
Yes TDS is 10.3% and its being deducted from the consultants.
Earned leave will be calculated on basic salary only.
Formula to calculate EL is Total Basic Salary divided by Total Number of Months he worked multiplied by number of earned leaves divided by thirty days.
If you have any clarifications please let me know.
Regards,
Vinay
9849996015
From United States, San Bruno
Yes TDS is 10.3% and its being deducted from the consultants.
Earned leave will be calculated on basic salary only.
Formula to calculate EL is Total Basic Salary divided by Total Number of Months he worked multiplied by number of earned leaves divided by thirty days.
If you have any clarifications please let me know.
Regards,
Vinay
9849996015
From United States, San Bruno
Hi Mirza, Revised TDS percentage is effective from June 1st, 2007, got confirmed from my finance people. Rgds, Vinay
From United States, San Bruno
From United States, San Bruno
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TDS circular.pdf
Format--new TDS rates.xls
BASICS OF TDS ON SALARY-1.doc