Please help me out
This query is : Resolved
09 May 2015
one employee who was teaching in college retired on 12 may 2012.
he is going to get ammount of rs. 118554 for time bond promotion in may 2015 which was related to past period.
my question is , TDS or any other tax should be deducted on such ammount or not.
further if there any tax is require to be deducted than what is the ammount of tax.
plz I need it urgent.
09 May 2015
As the amount has become due in May 2015, itself TDS is required to be deducted on the date of payment/credit. Please obtain an Income Declaration from him for the current FY and deduct TDS accordingly. If he is not having taxable income then no TDS is required to be deducted.
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Should I include march foreign salary received in April in my income for FY 2023-24?
- TDR receipts for agreement holder
- Inventory of finished goods
- Company Incorporation - CA and directors signing from different states
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Intimation wrongly states taxpayer has offerred u/s. 44ad & states probable resolutiton to do audit
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
