Cryptocurrency Q&A
What is the TDS for 1 lakh?
What is the TDS for 1 lakh?
alexander_smith_musician
Wed Oct 16 2024
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7 answers
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I want to know the Total Dissolved Solids (TDS) level for 1 lakh (one hundred thousand) of something, possibly water or a similar liquid. I'm curious about the specific measurement or range for this amount.
7 answers
Raffaele
Fri Oct 18 2024
To comprehend the intricacies of the tax deduction system, let's delve into an illustrative scenario. According to Section 192 of the income tax regulations, a crucial aspect of salary processing involves the withholding of taxes by employers.
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AltcoinExplorer
Fri Oct 18 2024
Specifically, this provision mandates that the employer must deduct Tax Deducted at Source (TDS) from an employee's salary. In this example, we consider a salary of Rs 1,00,000 per month.
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EclipseRider
Fri Oct 18 2024
The TDS deduction rate, as stipulated, is 11.5% of the gross salary. Applying this rate to the given salary amount, the TDS amounts to Rs 11,050. This deduction occurs monthly, ensuring that taxes are paid regularly throughout the year.
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Caterina
Thu Oct 17 2024
Consequently, the employee's net salary, also known as the in-hand salary, is calculated by deducting the TDS from the gross salary. In this case, Rs 11,050 is subtracted from Rs 1,00,000.
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Rosalia
Thu Oct 17 2024
After performing the calculation, the employee's in-hand salary is determined to be Rs 88,950. This is the amount that the employee will receive in their bank account each month, post-tax deductions.
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