TDS on salary
Hi Everybody,
I am a beginner and I want few information related to calculation of TDS on salary. The requirement is
slab - Rs 250000 to RS 500000 = Rate is 10%
slab - Rs 500000 to Rs 1000000 = Rate is 20%
slab - Rs 1000000 to Rs 3000000 = Rs is 30%
I know the tds calculation process however, especially in salary part I dont know the process to map this rate for different rates.
Can someone help me, where should i map this rate to get the tds calculation for three different rates.
Regards:
Jamshed
Mukthar Ali Ahamed N replied
Hi Jamshed,
1. First in with hold tax type configuration you have to select accumulation start from as 4.
2. Then maintain in define formulas for calculating withholding tax for withholding tax type as shown below.
Regards,
Mukthar