How to calculate TDS on salary ?
How to calculate TDS on salary payments?
Let us take an illustrative example for the better understanding:
Particulars | Income Tax payable (In ₹) |
Salary Income | 10,00,000 |
Less: Deductions (as per the declaration submitted by the employee) | 1,50,000 |
Net taxable income | 8,50,000 |
Tax payable | 82500 |
Add: Health and Education Cess @4% | 3,300 |
Total Tax Liability | 85,800 |
TDS to be deducted (Per Month) | 7,150 (85,800/12) |
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