Tax deducted at source
This query is : Resolved
05 May 2016
A bit confused with the meaning of tax deducted at source. guys pls elaborate with appropriate examples.
05 May 2016
TDS means tax deduction at source
it is simple as that....if any liability of income tax arrives in any sections as per income tax act from there tds deduction rules will apply.
if employer finds approx 24000 income tax after annual projection of salary & deduction of an employee then they have to deduct tds of Rs. 2000/- per month.
it is simple as that....if any liability of income tax arrives in any sections as per income tax act from there tds deduction rules will apply.
if employer finds approx 24000 income tax after annual projection of salary & deduction of an employee then they have to deduct tds of Rs. 2000/- per month.
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05 May 2016
TAX DEDUCTED SOURCE is deduction of tax from payment made by Deductor to Deductee to the extent of tax Applicable as per various section 192 to 195 if threshold limit exceeds prescribed limit.
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