04-15-2010, 09:28 PM
I think if his three months salaries cross the exempted limit of Rs. 200,000/- and meeting the other criteria then it should be deducted as prescribed rate.
Suppose the Salary is 80,000/- per month
then its three months income is 240,000/-
I. tax 240,000/- x 0.5% = 1,200/-
Rs. 400/- per month tax
Suppose the Salary is 80,000/- per month
then its three months income is 240,000/-
I. tax 240,000/- x 0.5% = 1,200/-
Rs. 400/- per month tax
