Dear all, Require your help on how to calculate IT(Income Tax) of an employee based on his CTC.Awaiting for reply. Regards Satya
From India, Delhi
1From India, Delhi
Hi Satya,
I hope this link will be somewhat useful for u
Personal Income Tax reduced - New Slabs as per Budget 2008 - Income Tax 2008, tax slabs
From India, Mumbai
I hope this link will be somewhat useful for u
Personal Income Tax reduced - New Slabs as per Budget 2008 - Income Tax 2008, tax slabs
From India, Mumbai
Dear Satya, As per your post. IT is calculated in CTC. I think you know about slabs of IT. And you should know about exemption too. send me your mail-id, i will forward the material...
From India, Bangalore
From India, Bangalore
Hi,
There is many factors which we need to consider while calculating IT on salary. Usually IT on salary is calculated and deducted in the form of TDS each month from salary. This is mandatory for every company.If it is not done the company will be liable to pay interest as well as penalties.
First of all please note that IT on salary is not calculated on CTC. It is always calculated on the net taxable income. I have given an example of IT calculation in the attached excel sheet.It is based on some assumptions and will very if any of the assumptions change.I am also attaching a sheet showing the rates and possible excemptions from tax.In case of any doubt please mail me.
From India, Kottayam
There is many factors which we need to consider while calculating IT on salary. Usually IT on salary is calculated and deducted in the form of TDS each month from salary. This is mandatory for every company.If it is not done the company will be liable to pay interest as well as penalties.
First of all please note that IT on salary is not calculated on CTC. It is always calculated on the net taxable income. I have given an example of IT calculation in the attached excel sheet.It is based on some assumptions and will very if any of the assumptions change.I am also attaching a sheet showing the rates and possible excemptions from tax.In case of any doubt please mail me.
From India, Kottayam
hi louis,
Very good one man...
I am having my own preparation only. but it is really helpful for all freshers and who are on to the stream...
Keep posting like this.... Thank you for your workdone....
With Regards,
G.R.Vishaka Guru.
9894325508
From India, Bangalore
Very good one man...
I am having my own preparation only. but it is really helpful for all freshers and who are on to the stream...
Keep posting like this.... Thank you for your workdone....
With Regards,
G.R.Vishaka Guru.
9894325508
From India, Bangalore
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