Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 September 2012 Dear Sir,

Our partnership firm pay salary to marketing executive Rs.20,000 per month & empolyer paid house rent Rs.7,000 per month,Paid health insurance Rs.12,000 per annum,Paid LIC Rs.3,000 per annum.

Is Tds Chargeable on it salary.

Thanks in advance.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 September 2012 prima facie TDS is applicable. (In order to work out the exemption on HRA, you need to provide the details as to a.rent paid b. HRA received by the employee i.e. given by the employer.)

Pankaj Gupta

Pankaj Gupta (Expert)
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14 September 2012 Calculate the total income of the employee (after giving effect to all the applicable deductions u/s 80c etc). If the total income exceeds the limit of exemption ie 180000, then tds is required to be deducted.

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