Hi friends,
I recently joined a new co. and I'm having some problems with the TDS deduction that these guys have made.
My annual package is 225000 and the co. only deducts Prof. tax and TDS from this. As per 225000 the montly salary is 18750 - 200 (prof tax in my state) = 18500 before TDS.
Now coming to TDS, the co. has deducted Rs. 1200 monthly which is Rs. 14400 p.a. I calculated the TDS on the site of Income tax India and its shows only rs.4563 as TDS p.a.
Obviously since female residents have an exemption till Rs. 180000 the TDS deducted is substantially higher.
what can i do abt this? is the co.'s calculation correct? I dont really think so. Please guide me
From India, Ahmadabad
I recently joined a new co. and I'm having some problems with the TDS deduction that these guys have made.
My annual package is 225000 and the co. only deducts Prof. tax and TDS from this. As per 225000 the montly salary is 18750 - 200 (prof tax in my state) = 18500 before TDS.
Now coming to TDS, the co. has deducted Rs. 1200 monthly which is Rs. 14400 p.a. I calculated the TDS on the site of Income tax India and its shows only rs.4563 as TDS p.a.
Obviously since female residents have an exemption till Rs. 180000 the TDS deducted is substantially higher.
what can i do abt this? is the co.'s calculation correct? I dont really think so. Please guide me
From India, Ahmadabad
Female residents have an exemption till Rs. 180000 the TDS deducted is higher, you just them where did they had deposited the amount deducted from your salary. Besides your Fianace dept. is suppose to furnish Form No. 16 (TDS Certificate No.199) under Section 203 of the Income Tax Act, 1961 tax deducted at source from income chargeable under the head "Salaries" for submission of IT Return. If they have not yet issued you just ask them to file the return.
From India
From India
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Salary Breakup alongwith TDS working and Computation A.Y. 13-14.xls