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Issue ID : 106193
- 0 -

Assistance required in TDS calculation for the new employee in the middle of FY

Date 23 Oct 2013
Replies1 Answers
Views 1491 Views
Asked By

Dear Sir/Madam,

 
I have two queries first one is Medical allowance is fully taxable or not. If it is taxable how could we adjust employees bill of Rs. 15000/- per year  as per sec 10 of income tax act
and the second one is I need help in the calculating the exact tax for the new employee he didn't gave form 16 of previous employer for current F.Y.; instead he gave Form 26AS for the first quarter. HIS Salary details for Previous employer as per salary slips are :: 
 
Month Amount             Company            TAX Deducted
Apr 46620.00            Previous Company           Rs. 1,000/-
may 46620.00    Previous Company         Rs. 1,000/-
june 46620.00   Previous Company         Rs. 1,000/-
july 46620.00     Previous Company            NIL

August       23310.00              Previous Company            NIL
 
 
His salary Details is as follow for our company. Joining Date  : 15-08-2013
 
BASIC 31000.00
HRA 15500.00
MEDICAL 1250.00
CONVEYANCE 800.00
TPT ALLOWANCE 1600.00
SPECIAL ALLOWANCE 11850.00
TOTAL 62000.00
 
Please advice regarding the exact amount of tax to be deducted and how it need to be calculated
 
Thanks in advance
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Replied on Oct 23, 2013
1.

you can rely on 26AS instead of form no. 16.

medical allowance exempt to the extent of medical expenses incurred 

transport allowance is exempt to the extent of incurred amount

HRA as per section 13A read with rule 2A

you can rely on the details given by the employee regarding on previous incomes

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