Tds

This query is : Resolved

Gandi Ravi kumar (Querist)
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07 January 2014 Dear Sir,

employee joined in my company in the month of Oct 2013 for salary Rs.22,500/-.

There is no tax liability for him from oct to Mar 2014 of Rs.22500*6 = Rs.1,35,000/-

Is there any liability for deducting TDS from his salary for the present 3rd quarter.Because his income not exceeded the basic exemption.

Please reply me as earlier as possible.

Best Regards,
Ravi.

Guest

Guest (Expert)

07 January 2014 You have to check all other incomes and savings of your emploee.Also take into consideration the salary which he got from his past employer.Then calculate tax and deduct on average basis.

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