How company calculates TDS on salary? - lic medical insurance
Hello my name is Tapesh Vishwakarma, works as a media. My gross salary is 35000/pm, and the reversal of the LIC was my insurance, medicine, compared to 80000 / - I also pay rent 7000/pm House. You can please let me know, as if cut in order to TDS 2009-2010
Thanks
Tapesh
Monday, January 25, 2010
Lic Medical Insurance How Company Calculates TDS On Salary?
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3 comments:
TDS wages (Article 192):
The TDS is based on the applicable tax rate on the estimated income of the employee for the year. Employers can not deduct TDS all allocations of responsibility as a transport allowance, housing allowance, medical services and investment as a deduction under § § 80C, 80cc, 80D, 80DD, 80DDB, 80E, 80GG, and 80U. No tax will be deducted from the source, if the estimated amount of the salary is not taxable. The employer can increase or decrease the amount of deductions for making adjustments for any previous breach or withdrawal of more.
HMT
Hello
Based on income and other data, provided that they operate as follows:
Rs.4 gross salary, 20000
Deductions:
Pay rent for the house of Rs.18, 000
Under § 80C
And 80D (which is
Mediclaim Payment
does not exceed Rs.15, 000 Rs.80, 000 Rs.98, 000
Rs.3 taxable 22,000
3,22,000 tax Rs.18, 400 + 3% Education Cess
You do not have the explosion of salaries namely house rent allowance, set the tax benefit of HRA, etc.
In particular, it can further tax concessions.
Details of the remuneration paid as HRA, transport, etc. collected tax professional tips, because they are also necessary to calculate TDS on salary
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