TDS Return Filing for Salary in 24Q : Example Rohan Enterprises Ltd

E.g.:A Rohan Enterprises Ltd  is a manufacturing Company located at Delhi .Its employees salary details are as follows:

Earnings Rs. (Per Annum) Rs(Per Annum) Rs(Per Annum) Rs(Per Annum) Rs(Per Annum)
Particulars/Employee Name SHYAM ASHISH SHREYA GAJANAN ROHAN
Basic 240000 288000 216000 324000 384000
HRA 96000 115200 86400 129600 153600
Transport allowance 24000 57600 24000 36000 18000
Medical reimbursement 14000 12000 20000 24000 25000
Child Education allowance 3000 4800 3000 4500 2250
Bonus 35000 48000 30000 50000 60000
Commission 30000 36000 20000 20000 30000
Special Allowance 56000 52800 5000 7000 10000
Telephone Allowance 15200 18240 12000 15000 16000
Total Earnings (Gross Salary) 513200 632640 416400 610100 698850
Admissible Deductions & Exemptions    
Professional Tax (U/s 16) 2500 2500 2500 2500 2500
HRA Exemption u/s 10(13A) (Note1) 86400* 105600*
Child Education allowance (max of 2 children Rs.100 p.m.) 2400 2400 2400 2400 2400
Travel Transport allowance (Rs.1600 p.m.) 19200 19200 19200 19200 18000
Medical reimbursement 14000 12000 15000 15000 15000
Total admissible deductions & exemptions 38100 122500 39100 39100 143500
 Salary After Deductions and Exemptions 475100 510140 377300 571000 555350
Deductions Available U/s  80C  to  80U
Employee’s Contribution to EPF(80C) 28800 34560 25920 38880 46080
Life Insurance Premium (80C) 7500 24000 5000 7000 6000
Home loan(principal) (80C) 96000 84000 72000 78000
Limit for deduction under 80C is 1,50,000/-
Medical Insurance Premium (80D)  upto 15000/- for individual 12000 15000 15000 15000
Education Loan Interest (80E) 7500 6000 8000
Total Deduction Available 139800 70560 129920 138880 153080
Taxable Salary After Deduction 335300 439580 247380 432120 402270
Taxable Salary Per Month 27942 36632 20615 36010 33522
Computation of TDS
Up To 2.5L Nil Nil Nil Nil Nil
Above 2.5L To 5L @10% 8530 18958 18212 15227
Above  5L  20%
Edu.Cess & S.H.E.C.@3% 256 569 546 457
Total Tax Liability for 12 months 8786 19527 Nil 18758 15684
TDS Per Month 732 1627 1563 1307

 

Total TDS Payable Per Month by the Company =732+1627+1563+1307=Rs.5229*3Months=Rs.15687.

Note (1)* HRA calculation:

S.No. Particulars Ashish Rohan
1) HRA Received (9600*12),(12800*12) 115200 153600
2) 50% of salary 144000 192000
3) Actual rent paid – 10% of Basic salary (12000*12-38400) 86400

(9600*12-28800)

105600

(12000*12-38400)

4) Whichever is lower HRA Exempt u/s 10(13A) 86400 105600

 

Details of the employee:

Ref

No.

Name PAN Taxable Salary

Per month

TDS Per

Month

EC per Month Total/month
E001 SHYAM PANDIT ACSPP2406D 27942 711 21 732
E002 ASHISH GOJE ACDPG1245E 36632 1580 47 1627
E003 GAJANAN JADHAV ACDPJ2234C 36010 1518 45 1563
E004 ROHAN SATAV BSDPS2347K 15227 1269 38 1307
Total TDS payable by the company for the First Quarter   5078 151 5229

 

Company Details:

Name: Rohan Enterprises Ltd

TAN:PNEK13506D, PAN:AABCU3141L

Responsible Person:

Vijay Chavan:GSWPS0850Q,vijay.chavan@gmail.com

Address :24,Mudra,Agra Road,Delhi,110024

Challan 1:Sec 192B, Total: 5229/- BSR code:6910333,Sr. no:62461,Date:05/05/16

Challan 2:Sec 192B, Total: 5229/- BSR code:6910333,Sr. no:71469,Date:05/06/16

Challan 3:Sec 192B, Total: 5229/- BSR code:6910333,Sr. no:62761,Date:05/07/16

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