Assistance required in TDS calculation for the new employee in the middle of FY

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..... Dear Sir/Madam, I have two queries first one is Medical allowance is fully taxable or not. If it is taxable how could we adjust employees bill of Rs. 15000/- per year as per sec 10 of income tax act and the second one is I need help in the calculating the exact tax for the new employee he didn't gave form 16 of previous employer for current F.Y.; instead he gave Form 26AS for the first q .....

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..... uarter. HIS Salary details for Previous employer as per salary slips are :: Month Amount Company TAX Deducted Apr 46620.00 Previous Company Rs. 1,000/- may 46620.00 Previous Company Rs. 1,000/- june 46620.00 Previous Company Rs. 1,000/- july 46620.00 .....

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..... Previous Company NIL August 23310.00 Previous Company NIL His salary Details is as follow for our company. Joining Date : 15-08-2013 BASIC 31000.00 HRA 15500.00 MEDICAL 1250.00 CONVEYANCE 800.00 TPT ALLOWANCE 1600.00 SPECIAL ALLOWANCE 11850.00 .....

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..... TOTAL 62000.00 Please advice regarding the exact amount of tax to be deducted and how it need to be calculated Thanks in advance - Reply By MANDAVILLI RAMAKRISHNA - The Reply = you can rely on 26AS instead of form no. 16. medical allowance exempt to the extent of medical expenses incurred transport allowance is exempt to the extent of incurred amoun .....

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..... t HRA as per section 13A read with rule 2A you can rely on the details given by the employee regarding on previous incomes - Assistance required in TDS calculation for the new employee in the middle of FY - Query Started By: - Jitender Sharma Dated:- 23-10-2013 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax .....

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..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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