I have a coleague working whose salary is Rs. 35000. is it possible by law to deduct TDS may be in the december and give her total salary for now.. she wants to say she will be doing investment in december.
19 April 2012
so that means i cannot pay her 35000 every month ? I need to deduct TDS from 35000 and then pay ? and how much shall i deduct TDS from 35000 and pay ?
19 April 2012
She can make investment whenever she want. But tax has to be deducted based on estimated total income of the employee. U need to obtain a declaration from the employee abt her savings and investments and Rent paid and any income under HP. Based on this, u need to computer her total tax liability and divide it by 12 and deduct the same on monthly basis. Else, it will be non compliance.
CAclubindia
