Q3.
A person received monthly salary of 70000 pm.On 15 Feb he received an Annual Bonus of 100000. Calculate TDS from April to Jan and Feb to March?
View answer
| Particular | APRIL-JAN | FEB-MARCH |
| MONTHLY SALARY | 70000 | 70000 |
| BONUS | 0 | 100000 |
| ANNUAL SALARY | 840000 | 940000 |
| LESS :- STANDARD DEDUCTION | 50000 | 50000 |
| NET ANNUAL INCOME | 790000 | 890000 |
| TAX | 70500 | 90500 |
| REBATE | 0 | 0 |
| NET TAX | 70500 | 90500 |
| CESS 4% | 2820 | 3620 |
| TAX+ CESS | 73320 | 94120 |
| MONTHLY TDS | 6110 | 16510 |
| NET SALARY | 63890 | 53490 |
WORKING NOTE
| PARTICULAR | AMOUNT |
| TOTAL TAX | 94120 |
| TAX ALREADY DEDUCTED | 61100 |
| BALANCE TAX | 33020 |
| BALANCE MONTHS | 2 |
| TDS (BALANCE TAX/BALANCE MONTHS) | 16510 |