deduction of TDS pls help

This query is : Resolved

pradeep (Querist)
Follow

01 February 2011 would like to know the following about deduction of TDS ;

We are a multi unit company. In one of our unit we have done one time settlement with four employees at one fixed amount of Rs.2.6 Lacs. This settlement is towards Wages, Bonus, Gratuity and EL. Wages pertain to last three years.

There has been a dispute with these 4 workers in court and now company has entered into one time settlement with all of them paying Rs. 2.6 Lacs each to them.

Please let us know,

What amount of TDS is deductible,

Any deduction can be given not to deduct any TDS.

Guest

Guest (Expert)

01 February 2011 Company will have to deduct tax at source