Hi , Can you Pls explain regarding Tds , how is that deducted and on what basis from employee salary. Rgds, Naina
From India, Bengaluru
From India, Bengaluru
Hi Naina
For deducting the TDs first you have to understand the IT Slabs. IT is exempted upto 2,50,000/- & any employee who draws the income between 2,50,000/- to 5,00,000/- is 10%,
income between 5,00,000/- to 10,00,000/- is 20%,
income above 10,00,000/- is 30%,
For that you have lot of calculations such as HRA Exemption, Medical Allowance, conveyance Allowance, Housing loans, Savings etc
With out kowing those you can't deduct tax. So in general finance team will handle.
From India, Bangalore
604For deducting the TDs first you have to understand the IT Slabs. IT is exempted upto 2,50,000/- & any employee who draws the income between 2,50,000/- to 5,00,000/- is 10%,
income between 5,00,000/- to 10,00,000/- is 20%,
income above 10,00,000/- is 30%,
For that you have lot of calculations such as HRA Exemption, Medical Allowance, conveyance Allowance, Housing loans, Savings etc
With out kowing those you can't deduct tax. So in general finance team will handle.
From India, Bangalore
Hi Naina,
Click the below link which is posted by me
https://www.citehr.com/559948-tds-em...-salaries.html
regards,
Narayan
From India, Hyderabad
Click the below link which is posted by me
https://www.citehr.com/559948-tds-em...-salaries.html
regards,
Narayan
From India, Hyderabad
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
TDS circular.pdf
Format--new TDS rates.xls
BASICS OF TDS ON SALARY-1.doc