How is TDS on Salary computed and levied?

Share This Thread
  1. linto

    linto New Member

    Dear Sir,

    Please let me know until how much amount the exemption is available in case of salary in a financial year. I came to know that upto Rs.2,50,000 in a financial year the exemption is available. Please do confirm. If a person's salary is over and above Rs2,50,000 in a financial year how much TDS to be deducted and for savings or loans any exemption is there.
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    There are various deductions that are available to a salaried employee. Kindly refer:

    After taking into account these deductions, if your net taxable income is less than Rs. 2.5 Lakhs - Nil tax would be levied. Tax would be levied on the amount above Rs. 2.5 Lakhs.

    The tax would be levied as per the income tax slab rates. Refer:

    The TDS to be deducted would be equal to the tax levied as per the income tax slab rates.
Draft saved Draft deleted
Similar Threads Forum Date
TDS Deduction on Employee Salary (proprietorship firm) Other Taxes Jun 19, 2017
How to deduct TDS on Salary? Other Taxes Aug 1, 2016
Meaning of Salary for the purpose of Professional Tax Other Taxes Feb 22, 2016
when education cess tax is deducted from gross salary then whycant we less the same tax paid by us Other Taxes Sep 19, 2015
If salary exceeds 15000/- due to overtime, ESI applicable or not?? Other Taxes Jun 19, 2015