17 March 2011
Dear Sir, 1. in our co. some employee enter in Nov & Dec-10 and his salary per months app. Rs. 35000 and these employee total earning from co. appr.170000/- up to March. 2. is TDS applicable if applicabe pls provided me procedere & Calculator of TDS 3. I am confusion that according to income tax act we will not pay a individual one time more then Rs. 20000/- or per year Rs. 50000/- 4. accoring to this view all employee applicable TDS , So pls guide me.
17 March 2011
Take employee declaration from employees of their Incomes and saving u/s 80C and Form 16 or salary certificate issued by previous employer. Now calculate the Gross total income for full financial year & calculate tax liability and deduct TDS accordingly.
CAclubindia
