[aaykarbhavan] Re: Form 16 (Part A).

calculation is to be made in following period

11 month=Total salary

1 month  =Total salary

Less deduction

u/C - VIA

80C etc

Net salary

calculate tax

Less

Tax deducted by privious company

Balance tax is to be deducted by present company

this is procedure for calculating tax liability, it is to be seen how they have calculated said sum

--- In aaykarbhavan@yahoogroups.com, "curious4learning" wrote:
>
> Hi,
>
> I have a basic query in Form 16 (Part A) - Amount Paid / Credited.
>
> A friend of mine has got his Form 16.
>
> In Form 16 (Part A) -
>
> Amount Paid / Credited is Rs.36,250/- (This is nothing but salary of March 2013 only without TDS deduction).
>
> Amount of tax deducted Rs.14,916/- (This is after computing salary for the year and after considering applicable deductions)
>
> It seems the DEDUCTOR has chosen to deduct at one go in March 2013.
>
> Query
>
> Actually, the taxable income is Rs.3,44,800/- (Gross Salary Rs.4,69,500/-).
>
> I am unable to understand the logic for Amount Paid / Credited is Rs.36,250/- stated in Form 16 (Part A).
>
> Please confirm the correctness of Form 16 (Part A) with reasons for my understanding.
>
> Ans : .....................
>
> Thanks in advance for replies.
>

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