04 December 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
04 December 2020
From current financial year no need for TDS on salary below 5 lacs. Obtain consent from employees they are opting for new scheme of taxation without claiming any deductions.
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