How to calculate TDS on salary?

TDS is tax deducted at source. For slary you have to consider the tax slabs in the year for which TDS is to be calculated. Assesment year is the next year in which you have earned the salary.

Use the following slabs for the salary earned in the financial year 2008-09

Taxable income slab (Rs.) Rate (%)

Up to 1,50,000 NIL

Up to 1,80,000 (for women) NIL

1,50,001 – 3,00,000 10

3,00,001 – 5,00,000 20

5,000,001 upwards 30

This calculation will give you approximate idea of TDS.

PS- Surcharge calcualtion is additional.

For calculating TDS on salary, read

http://mytaxes.in/index.php?topic=12.0

Also read Income from Salary

http://mytaxes.in/index.php?topic=17.0

visit Incometaxindia.com site section TDS and you have all the required details