Income Tax (based on the tax slab) Employee’s Provident Fund Profession tax (depending upon the city) Gratuity Check the table for the SSC MTS In-Hand Salary for the various cities. The SSC MTS Highest Salary is for candidates posted in city X. City Category X Y Z In-Hand Salary ...
Take a look at the professional tax slab in India (Statewise). How to calculate your take-home salary? We have provided some easy steps to help you calculate your take-home salary, also known as in-hand salary and net salary. In order to Calculate take-home salary, subtract the Income...
Professional Tax The Professional Tax is deducted from your monthly salary income. This deduction amount goes to the respective government of the state. TDS TDS stands for Tax Deducted from the Source. The TDS is an Income Tax that applies to the employees’ salary. Some companies deduct it ...
Professional tax is levied on both employed individuals and businesses. ➔ Tax Deducted at Source (TDS) Tax Deducted at Source (TDS) is the amount deducted by the employer to pay towards the employee’s income tax. The employer is responsible for deducting the amount when paying the employee...
Note:As per the income tax slab, there is no tax for individuals having income upto INR 5 lakh post all eligible deductions. If it goes beyond, tax rates will apply. What is the Income Tax Slab Rate for FY 2023-24? To figure out the income tax on your salary, start by looking at...
Mr Joe’s salary lies between 2,50,001- 5,00,000 comes beneath the 10% tax slab. 10% of His income attains at Rs. 3,60,074. Post to the income tax deduction and other professional deductions, he can obtain Rs. 3,24,006.6 All the earnings and deduction components will see in your...
(basic)# evaluates to 1220# getdate/date - casts the value `start_date` to a `datetime.date` object# eg: Professional Tax is 300 in February and 200 in every other month. `start_date` takes up the value of salary slip's `start_date`# In that case the condition can be written ...
the present year for any previous year’s left dues to furnish the amendments. The tax payable for the present year is much more when the other arrear gets added to the income of the prevailing year. This is because of the shift from the income tax slab rate to the higher tax slab. ...
Mr. Toni, falling into the 2.5 lakhs – 5 lakhs income tax slab, experiences a calculated income tax of Rs. 4,030, with a rebate under Section 87A rendering his income tax liability null. Tax Saving Strategies for Different Income Groups ...
Step 11:Professional tax (varies in each state) Step 11:TDS (as per the current or new income tax slab rates) Step 12:Sum all the deductions i.e total deductions. Net Salary/Take Home/Inhand Salary Calculation Step 12:Total earnings – total deductions will be the net salary of the em...