24q

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 Dear Sir,
Suppose gross salary of an employee is Rs. 340000/- in fy 2013-14 and his 80C investment is Rs. 1 lac.
Then what what would be the tds amount that a deductor should deduct from his salary.

I am asking this from the purview of Rs. 2000/- rebate given to assessee. Whether deductor has to also consider this before deducting tds from salary.

Please enligten me.
Thanks.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 January 2014 Yes rebate of Rs 2000 also need to be considered while calculating and deducting TDS from salary of employee.

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 now what would be tds amount in above case?

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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11 January 2014 No employer will take the risk of allowing you the rebate of 2000 so he will deduct tax if any on 240000 and by filing the return you can claim refund

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 January 2014 Sir its not about taking the risk. Its about giving rebate as per IT rules.

In above case TDS will be Rs 2000. Also ensure you giben deduction of P.Tax and other deduction like HRA etc.

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 ed. cess would be calculated before lessing the rebate or it would be calculate after lessing the rebate?

NAVIN SAFFAR

NAVIN SAFFAR (Expert)
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11 January 2014 Tds calculation is depend on your HRA,Conveyance allowance,Medical allowance. So TDS Can calculate after considering all these.