How to calculate Net of tax for an employee
Confused about tax calculations for an employee? Get your calculations right with expert advice right here.
Can anyone guide me on how to calculate Net of tax for an employee? I want to pay, for example, 50K as an incentive but tax should not be deducted. I want to gross up and pay that amount.
If I pay the amount of 50K, for that some amount of tax has been deducted depending upon the tax slab for the employee. Instead of that, I want to calculate tax for that 50K and add that 50k plus tax and pay him the gross amount i.e including tax.