Respected Sir,
This is regarding the calculation of taxable Salary. One employee joined our company in May 2011@ Rs. 60000/- per month. He resigned on 1 March 2012. during his tenure he got short salary due to deduction of Leave, In Sept 2011 Rs. 56000/- and in November 2011 Rs. 54000/-. So we Consider his taxable Salary for TDS purpose like 60000.00X10 or (60000X8+56000+54000). What Amount we have show in our Company's TDS Return.
Please Clarify.
Best Regards.
Pradeep kaushik
Calculate TDS Based on Actual Salary Paid, Not Nominal, for Employee Joining in May 2011 and Resigning March 2012. An individual inquired about calculating taxable salary for TDS purposes for an employee who joined in May 2011 at a monthly salary of Rs. 60,000 and resigned in March 2012. The employee received reduced salaries of Rs. 56,000 in September and Rs. 54,000 in November due to leave deductions. The question was whether to calculate TDS based on the nominal salary or actual paid amounts. Two respondents advised using the actual salary paid, as per the second formula, for the TDS calculation. (AI Summary)
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