Tax conjecture at sources for an IT (Information Technology) Consultant - which rate is applicable?
How much percentage requests to discount for an IT consultant.
Pls explain next to an example rather:
Consultant monthly contribution is Rs. 80,000/-.
Suresh
Answers:
u r coming below the catergory of professional and consultancy. so ur TDS rate for this year is income Tax 5%, surcharge - 10% E.Cess - 3% so ur TDS rate is 5.67% Ur monthly stipend is 80000 resources u own to reduce by 5.67% on that amount i.e. 80000 X 5.67% = 4536. Ur lattice pay to IT consultant will be 80000 - 4536 = 75464. u enjoy to remit this 4536/- to govt a/c via corresponding challans.
You already own get the correct answer from munch.
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Pls explain next to an example rather:
Consultant monthly contribution is Rs. 80,000/-.
Suresh
Answers:
u r coming below the catergory of professional and consultancy. so ur TDS rate for this year is income Tax 5%, surcharge - 10% E.Cess - 3% so ur TDS rate is 5.67% Ur monthly stipend is 80000 resources u own to reduce by 5.67% on that amount i.e. 80000 X 5.67% = 4536. Ur lattice pay to IT consultant will be 80000 - 4536 = 75464. u enjoy to remit this 4536/- to govt a/c via corresponding challans.
You already own get the correct answer from munch.