TDS Deduction on Salary
This query is : Resolved
16 November 2020
Hello everyone,
I pay salary to some employees under my proprietorship (IT services only business) and get the audit done. But is it required for me to deduct TDS on salary of employees for whom salary is below INR 5,00,000 per financial year?
Looking for your help.
Thanks
I pay salary to some employees under my proprietorship (IT services only business) and get the audit done. But is it required for me to deduct TDS on salary of employees for whom salary is below INR 5,00,000 per financial year?
Looking for your help.
Thanks
17 November 2020
Help will be appreciated, please share your knowledge.
26 September 2021
You have to first arrive at the tax-ability of employee having income more than basic exemption limit. If any tax liability arise, then you have to deduct TDS.
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