20 May 2013
Hi I have a query regarding TDS on Salary.If an employee is drawing salary of Rs.42000 p.m, and he left the job in may 2013. Is there any requirement to deduct TDS from his salary for F/Y 2013-2014.?? Please reply ASAP. Thanks in advance.
At the time when the salary of the said amount was being paid to the employee the TDS deductibility was there very much. It could not have been ascertained in the month of April itself that the employee will leave job in the month of May or not. As such the TDS was required to be deducted as soon as the salary was due for the month of april. Salary has to be fairly estimated for the whole year and not to be ascertained as and when it crosses the exemption limit.
21 May 2013
SIR I HAVE ALREADY QUOTED ABOVE THAT THE SALARY HAS TO BE FAIRLY "ESTIMATED" FOR THE WHOLE YEAR AND IT HAS NOT TO BE SEEN IN ITS ONLY INDIVIDUAL ASPECT OF BEING RECEIVED.
CAclubindia
