05 April 2013
One of our employee left job on 28 Feb, 2013 and he comes under 30 % Tax bracket and we already paid Feb month salary in the Financial Year 2012-13.
Now, his full & final payment for EL, Bonus & LTA comes to Rs. 6,04,690/-.
We deduct 30.9 % Tax on whole amount but that employee telling us TDS should be deducted at minimum rate as he has no income for the F.Y. 2013-14.