ibadi.in AP, TS Employees Online TDS Calculator Income Tax U/s192
Every salaried employee who is liable to make payment shall deduct tax at source and remit the same into the account of Central Government as per Section 192 the Income Tax Act, 1961. Here we are providing Online TDS Calculator for the employees of AP and Telangana. By using this online TDS Calculator AP, Telangana employese can easily assess how much monthly amount should deduct towards TDS. This software is very useful for DDOs to assess monthly TDS of their employee.
AP, TS Employees Online TDS Calculator Click Here
What is TDS IT Act of 1961 U/s 1961
The Income Tax Act of 1961’s Section 192 addresses tax withheld at source (TDS) on salaries. TDS will be taken out of your salary by your employer. Your employer will be responsible for withholding TDS from your salary at the standard income tax rates that apply to you for the relevant financial year. Your salary is classified as “Income” under the heading “Salary.” Form 16 is given to the employee by the employer and includes the TDS that was deducted in accordance with Section 192.
How to Use Ibadi.in TDS Online Calculator
First login to the website ibadi.in and click on the link TDS Online Calculator.
- Select the state from the drop-down provided.
- Select your basic pay as on March.
- Select the increment month.
- Select HRA category of your locality.
- Enter if any House Loan interest in the specified field.
- Enter if any other entitled allowance received from salary.
- Enter any other allowances received on Salary
- Click on Calculate Button.
- Check your approximate TDS and download PDF for future use.
Employer is Responsible for TDS Deduction
TDS on a salary refers to the employer’s deduction of tax of the employee at the time the salary is deposited into the employee’s account. The employer deposits the sum taken from the employee’s account with the government. An employer must register for a TAN before deducting tax at source from an employee’s salary. The Tax Deduction and Collection Account Number, or TAN number, is essentially a 10-digit alphanumeric code used by the Income Tax Department to track TDS deduction and remittance.