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Q1
A person received monthly salary of 30000 pm.From 1 Sept his salary increased to 60000 pm.Calculate TDS from April to Aug and Sept to March?
View Answer| TIME PERIOD | APRIL - AUG | SEP- MARCH |
| MONTHLY SALARY | 30000 | 60000 |
| ANNUAL SALARY | 360000 | 570000 |
| LESS :- STANDARD DEDUCTION | 50000 | 50000 |
| NET ANNUAL SALARY | 310000 | 520000 |
| TAX | 3000 | 16500 |
| REBATE | 3000 | 0 |
| NET TAX | 0 | 16500 |
| CESS 4% | 0 | 660 |
| TAX+ CESS | 0 | 17160 |
| MONTHLY TDS | 0 | 2451 |
| NET SALARY | 30000 | 57549 |
Note:-
Before salary increase , we will calculate done normally by multiplying salary by 12
(30000*12=360000)
However, after salary increase we take proportionate salary as annual salary
(30000*5+60000*7=570000)
WORKING NOTE FOR TDS
| PARTICULAR | AMOUNT |
| TOTAL TAX | 17160 |
| LESS TAX ALREADY DEDUCTED | 0 |
| BALANCE TAX | 17160 |
| BALANCE MONTHS | 7 |
| TDS (BALANCE TAX/BALANCE MONTHS) | 2451 |
Q2
A person received monthly salary of 60000 pm.From 1 Feb his salary increased to 80000 pm.Calculate TDS from April to Jan and Feb to March?
| TIME PERIOD | APRIL - JAN | FEB- MARCH |
| MONTHLY SALARY | 60000 | 80000 |
| ANNUAL SALARY | 720000 | 760000 |
| LESS :- STANDARD DEDUCTION | 50000 | 50000 |
| NET ANNUAL SALARY | 670000 | 710000 |
| TAX | 46500 | 54500 |
| REBATE | 0 | 0 |
| NET TAX | 46500 | 54500 |
| CESS 4% | 1860 | 2180 |
| TAX+ CESS | 48360 | 56680 |
| MONTHLY TDS | 4030 | 8190 |
| NET SALARY | 55970 | 71810 |
Note:
Before salary increase , we will calculate done normally by multiplying salary by 12
(60000*12=720000)
However, after salary increase we take proportionate salary as annual salary
(60000*5+80000*7=760000)
WORKING NOTE
| PARTICULAR | AMOUNT |
| TOTAL TAX | 56680 |
| TAX ALREADY DEDUCTED | 40300 |
| BALANCE TAX | 16380 |
| BALANCE MONTHS | 2 |
| TDS (BALANCE TAX/BALANCE MONTHS) | 8190 |
