30 May 2015
Every person who is responsible for paying any income chargeable under the head “Salaries” shall deduct income-tax monthly on the estimated income and savings of the assessee under the head “Salaries” for the financial year. Year end TDS be based on actuals.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 May 2015
if a employee has annual taxable income 240000 the employer has required to deduct tax
30 May 2015
It is below the basic exemption limit, no need to deduct any tax.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 May 2015
in practical situation if the employee has income from salary and income from other source and together (240000+300000=540000) now the employer is required to deduct tax...