Sunday, 15 July 2018

My salary is 28K, what is the TDS?

You have not mentioned, the break up of your pay scale details.
I will present you the Tax computation in the following 2 interpretations
Interpretation: 1 Tax for FY 2016–17 
Consider the total salary amount as a Taxable amount. Then total Salary is  Rs. 28000*12=336000. Assuming you have the age of fewer than 60 years. 
Tax will comes to =(336000–250000)*10%=8600 |
Rebate of Rs. 5000/-will come under Sec 87A 
Net Tax Payable is Rs. 3600/-.and 
Education Cess secondary education Cess will be 3% on Tax payable. 
I. e 3600*3%=108.
Hence your total tax payable is ₹3600+₹108=₹3708/-

Interpretation:2 Tax for FY 2017–18 
Consider the total salary amount as a Taxable amount. Then total Salary is Rs. 28000*12=336000. Assuming you have an age of fewer than 60 years. 
Tax will comes to =(336000–250000)*5%=4300  
Rebate of Rs. 2500/-will come under Sec 87A Net Tax Payable is Rs. 1800/-.and 
Education Cess secondary education Cess will be 3% on Tax payable. I. e 1800*3%=54.
Hence your total tax payable is ₹1800+₹54=₹1854/-

Note: Here I am assuming that taxable income is after deduction of deductions available under Income Tax Provisions. I.e PF deduction ₹1800/-pm and Conveyance allowance and HRA allowance etc.
Hope this helpful to you
Thanks and Regards
Team - GST Mithra

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