TDS ON SALARY
This query is : Resolved
05 May 2020
Hello,
I have a question regarding TDS on Salary.
Can Non-Auditable Individual deduct TDS on Salary ?
I have a question regarding TDS on Salary.
Can Non-Auditable Individual deduct TDS on Salary ?
05 May 2020
Yes, it's required by anyone including non auditable individual who pays taxable salary.
05 May 2020
TDS needs to be deducted as per Income Tax regardless of whether the deductor is required audit or not.
05 May 2020
Yes tds need to be deducted if exceeds taxable income u/s 192
06 May 2020
Where the total income form salary i.e after reduction of standard deduction, professional tax and exempt allowances exceeds maximum amount not chargeable to tax i.e Rs.2,50,000 for age upo 60 years, Rs.3,00,000 for age more than 60 years Tax has to be deducted after allowing deduction under chapter VIA, rebate u/s 87A if applicable. TDS return has also to be filed in such cases where the salary income exceeds maximum amount not chargeable to tax even if there is no TDS because of deductions and rebate.
21 May 2020
TDS needs to be deducted as per Income Tax regardless of whether the deductor is required audit or not.
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