Matter of tds on pension

This query is : Resolved

Guest

Guest (Querist)

09 June 2012 good afternoon to all experts,
can you please told me that supoose a man ( age 62 years) rec. pension per month 20000. and he also do job in a private limited co. his salary is 25000. than co. will deducted tds only salary . than what is the role of pension. in his case. and pension is not cross the slab rate (250000).than what we do in this case

Ca Anand Dubey

Ca Anand Dubey (Expert)
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09 June 2012 this query already answered same reply will apply

Guest

Guest (Querist)

09 June 2012 but sir how can tds deduct on pension . limit is 250000 in case above senior citizen

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Ca Anand Dubey

Ca Anand Dubey (Expert)
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09 June 2012 dear rajeev exemption will apply after adding salary and pension you can't avail separate exemption . It will 2.5 including pension and salary ,add both then apply maximum exemption limit then calculate tax

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Guest

Guest (Querist)

09 June 2012 thanks sir now i understand sir we contracted a milk supplier . milk suppler co. name is reghysha agrotech limited. sir he give his bill every month 20000 without adding service tax. than sir will i deduct tds in his while he does not add service tax in his bill.

Ca Anand Dubey

Ca Anand Dubey (Expert)
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09 June 2012 TDS is applicable if there is work contract and there is no correlation between service tax and tds.
what kind of contract you have? if it is for supply of milk then it will come under purchase and no tds will apply

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Guest

Guest (Querist)

09 June 2012 yes sir he give us milk 30 liter

Guest

Guest (Querist)

09 June 2012 sir what happen

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Guest

Guest (Querist)

09 June 2012 sir i m waiting ur reply

Ca Anand Dubey