As you know there is tax on salary amount with the income tax slabs.But to calculate the income tax on salary is always a difficult cause as it inculdes a lot of complexities like salary has very wide concept including basic,travelling allowance,dearness allowance,medical expenses and so many things. Calculating tds on each item and then calculating it is very hard so there is a excel based calculator which work very fine on calculating the tds on salary.

TDS is the tax which is deducted at source means one will get the salary after deducted tax. So it makes the figuring the tax amount quite difficult as what should he get and what should the deducted tax. Salary consists of many allowances as well as some allowances are tax free whereas some attracts tax.

TDS liability is all the peoples and firms which has the liability to pay income tax such as individual,HUF,firms, company and government. But paying TDS is subject to income tax slabs. One needn't to pay income tax where tax liability does not arises or arises less than 10000. Income tax slabs for the financial year 2011-12 are as under.

men women senior citizen
Basic exemption 160000 190000 240000
10% tax upto 500000 upto 500000 upto 500000
20% tax upto 1000000 upto 1000000 upto 1000000
30% tax more than 10 lakh for all the catagory

This is the calculator for calculating tds on salary with all aspects of salary. simple enter the whole salary aspects and it will calculate tds for you.
Tags-tds on salary calculator,tds on salary,how tds is calculated on salary,tds calculator,tds on salary calculator,tds on salary calculator for asst year 2011-12,tds on salary calculator for asst year 2012-13
Share on Google Plus

About itsworking

    Blogger Comment
    Facebook Comment