Tds
Querist : Anonymous
TDS on Salary (Section 192)
•Any person responsible for paying any income (employer) chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax on the amount payable at the rates applicable to the estimated income of the assessee (employee) under this head for that financial year.
•It is not the total income that is subject to deduction of tax at source but the estimated income under the head “Salaries” that is important.
So for 2013-14.
Upto 2 lakhs NIL
2 to 5 lakhs 10%
5 to 10 lakhs 20%
Above 10 lakhs 30%
If salary is less then 2 lakhs then no need to deduct TDS.
Querist : Anonymous
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