INCOME TAX

UPTO 250000 Nil

250000-500000 5% of Income Greater than 250000
500000-1000000 20% of Income Greater than 500000+12500
>1000000 30% of Income Greater than 1000000+1125

There is Rebate of 2500 also if Income between 250000-350000

(Applicable for ITR of Financial Year 2018-19 (AY 2019-20)
Also applicable for Payroll from 1 April 2018

There Is also 40000 standard Deduction to a Salaried Person which will be deducted from Annual Salary

MONTHLY SALARY 10000 25000

ANNUAL SALARY 120000 300000
LESS STANDARD DEDUCTION 40000 40000
NET ANNUAL SALARY 80000 260000
TAX 500
REBATE
NET TAX
CESS
TAX+ CESS
MONTHLY TDS
NET SALARY
 TAX
me Greater than 250000
ome Greater than 500000+12500
ome Greater than 1000000+112500

d from Annual Salary

30000 40000 50000 100000 22000

360000 480000 600000 1200000 264000
40000 40000 40000 40000 40000
320000 440000 560000 1160000 224000
3500 9500 24500 160500
2500
1000 9500 24500 160500
40 380 980 6420
1040 9880 25480 166920
86.66667 823.33333333 2123.333 13910
29913 39177 47877 86090
Q1 A person received monthly salary of 25000 pm.From 1 Sept his salary increased to 35000 pm.Calculate T

TIME PERIOD APRIL - AUG

MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL SALARY
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

WORKING NOTE FOR TDS

PARTICULAR AMOUNT
TOTAL TAX
LESS TAX ALREADY DEDUCTED
BALANCE TAX
BALANCE MONTHS
TDS (BALANCE TAX/BALANCE MONTHS)
y increased to 35000 pm.Calculate TDS from April to Aug and Sept to March?

SEP- MARCH
Q2 A person received monthly salary of 40000 pm.From 1 Feb his salary increas

TIME PERIOD
MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL SALARY
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

WORKING NOTE

PARTICULAR
TOTAL TAX
TAX ALREADY DEDUCTED
BALANCE TAX
BALANCE MONTHS
TDS (BALANCE TAX/BALANCE MONTHS)
pm.From 1 Feb his salary increased to 50000 pm.Calculate TDS from April to Jan and Feb to March?

APRIL - JAN FEB- MARCH

AMOUNT
Q3 A person received monthly salary of 30000 pm.On 15 Feb he received an Annual Bonus of 100000. Calcu

Particular APRIL-JAN
MONTHLY SALARY
bonus
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL INCOME
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

WORKING NOTE

PARTICULAR AMOUNT
TOTAL TAX
TAX ALREADY DEDUCTED
BALANCE TAX
BALANCE MONTHS
TDS (BALANCE TAX/BALANCE MONTHS)
ual Bonus of 100000. Calculate TDS from April to Jan and Feb to March?

FEB-MARCH
Q4 A person received monthly salary of 60000 pm from April to Dec in A ltd.On 1 Jan he left Altd and joined B Ltd

There can be 2 cases

1. Details of Previous Company given to new company

2. Details of Previous Company not given to new company

Details of Previous Company given to new company

TIME PERIOD APRIL - DEC

MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL INCOME
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

Salary for Old Co

Salary for New Co

WORKING NOTE FOR TDS

PARTICULAR AMOUNT
TOTAL TAX
TAX ALREADY DEDUCTED
BALANCE TAX
BALANCE MONTHS
TDS (BALANCE TAX/BALANCE
MONTHS)

Details of Previous Company not given to new company

TIME PERIOD APRIL - DEC

MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL INCOME
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

Salary for Old Co

Salary for New Co

n 1 Jan he left Altd and joined B Ltd @ 65000 pm.Calcuate TDS to be deducted by Altd and B ltd?

JAN - MAR
JAN - MAR
Q5 A person received monthly salary of 60000 pm from April to Dec in A ltd.He remained jobless for 10 days and

There can be 2 cases

1. Details of Previous Company given to new company

2. Details of Previous Company not given to new company

Details of Previous Company given to new company

TIME PERIOD APRIL - DEC JAN - MAR

MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL INCOME
TAX
REBATE
NET TAX
CESS 4%
TAX+ CESS
MONTHLY TDS
NET SALARY

WORKING NOTE

Salary for Old Co

Salary for New Co

 PARTICULAR AMOUNT
TOTAL TAX
TAX ALREADY DEDUCTED
BALANCE TAX
BALANCE MONTHS
TDS (BALANCE TAX/BALANCE
MONTHS)

Details of Previous Company not given to new company

TIME PERIOD APRIL - DEC JAN - MAR

MONTHLY SALARY
ANNUAL SALARY
LESS :- STANDARD DEDUCTION
NET ANNUAL INCOME
TAX
REBATE
NET TAX
CESS
TAX+ CESS
MONTHLY TDS
NET SALARY

Salary for Old Co

Salary for New Co

d jobless for 10 days and from 11 Jan he joined B Ltd @ 65000 pm.Calcuate TDS to be deducted by Altd and B ltd?