02-17-2011, 06:30 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by olympia</i>
<br />As per Laptop,
"Is par tax rate 17.5 k hisab say 568400 tax bany ga ab ye tax employeer jama karwaye ga."
As per Faisal,
Laptop is correct and he has correctly mentioned that remaining tax of Rs. 120,400 will have to be paid by the employee,
i think emplyer has to pay an increased amount of tax which is 568400 instead of 448000.
Thori confusion he please clear the statements.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Which confusion is required to be clarified? you should have mentioned!
To my apprehension, Laptop meant "employee" and not "employeer" (which is incorrect) and i considered employee while replied.
Rs. 120,400 has been arrived at by deducting pre amount of tax from proposed tax (i.e. 568,400 - 448,000).
If we assume that Rs. 120,400 will be paid by the employer, then this amount of Rs. 120,400 will again be added into the taxable income of employee, since it would again be considered as perquisite from employer to the employee, and then resultant effect will be as follows;
Taxable income -------------------- 3,248,000
Add proposed perquisite ----------- 120,400
Revised Taxable income ------------ 3,368,400
Tax on revised income ------------- 589,470 (3,368,400*17.5%)
Less Tax Already paid ------------- 568,400
Excess to be paid by Employee ----- 21,070
Rs. 21,070 will have to be paid by employee, however, if Rs. 21,070 is paid by the employer again, then taxable income will have to be calculated again by adding Rs. 21,070 into the taxable income of the employee, since it will be treated as perquisite to employee.
The aforementioned process will be continued till employee pays the final(least) contribution, before it preponderates due to upper slab.
Best Regards,
Faisal.
<br />As per Laptop,
"Is par tax rate 17.5 k hisab say 568400 tax bany ga ab ye tax employeer jama karwaye ga."
As per Faisal,
Laptop is correct and he has correctly mentioned that remaining tax of Rs. 120,400 will have to be paid by the employee,
i think emplyer has to pay an increased amount of tax which is 568400 instead of 448000.
Thori confusion he please clear the statements.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Which confusion is required to be clarified? you should have mentioned!
To my apprehension, Laptop meant "employee" and not "employeer" (which is incorrect) and i considered employee while replied.
Rs. 120,400 has been arrived at by deducting pre amount of tax from proposed tax (i.e. 568,400 - 448,000).
If we assume that Rs. 120,400 will be paid by the employer, then this amount of Rs. 120,400 will again be added into the taxable income of employee, since it would again be considered as perquisite from employer to the employee, and then resultant effect will be as follows;
Taxable income -------------------- 3,248,000
Add proposed perquisite ----------- 120,400
Revised Taxable income ------------ 3,368,400
Tax on revised income ------------- 589,470 (3,368,400*17.5%)
Less Tax Already paid ------------- 568,400
Excess to be paid by Employee ----- 21,070
Rs. 21,070 will have to be paid by employee, however, if Rs. 21,070 is paid by the employer again, then taxable income will have to be calculated again by adding Rs. 21,070 into the taxable income of the employee, since it will be treated as perquisite to employee.
The aforementioned process will be continued till employee pays the final(least) contribution, before it preponderates due to upper slab.
Best Regards,
Faisal.
