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| *The Commerce Journal>>>India Taxes |
What is the new tds rates for 2008-2009 for calculating tax for salaries? |
i would like to know how to calculate tax for total income as per new budget .say 1,50,000 -no tax.1,50,001 to ???@10%........20%........ TDS is to be deducted equally over a period of 12 months. the slab applicable to the concerned individual is the rate for tds There is no new TDS rates. All old TDS rates of last year will apply. For salary TDS, there is no particular %. The company will calculate the employees salary and the tax to be paid by him. What ever is the tax to be paid by the employee, the same will be deducted by way of TDS by the company in 12 instalments. In some cases the TDS will be more in some months and less in some months. But by the end of financial year, the company will collect the entire tax by way of TDS. |
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