Tax planning

Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment.
Calculate gross monthly income as a sum of basic income, allowances, and perquisites. Calculate available exemptions under Section 10 of the Income Tax Act (ITA). ... As TDS is calculated on yearly income, multiply the corresponding figure from above calculation by 12. This is your yearly taxable income from salary.
please, like & subscribe to our youtube channel of the policy related issue.
CLICK HERE, for a policy-related issue.
Comments
Post a Comment