tds on salary

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CA SONI KRUNAL

CA SONI KRUNAL (Querist)
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13 May 2010 Wheather E.cess and S.H.E.cess is still applicable on TDS ON Salary?

How to dedyct TDS U/S 192B?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 May 2010 YES. CESS IS APPLICABLE ON SALARY.
COMPUTE TAXABLE INCOME OF EMPLOYEE AND AVG TAX PAYABLE BY HIM. DEDUCT TDS PROPORTIONATELY OVER 12 MONTHS.
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CA SONI KRUNAL

CA SONI KRUNAL (Querist)
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13 May 2010 my id is krunal9599@gmail.com

sir what is section 192B?

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 May 2010 SEC 192 IS TDS FROM NON GOVT EMPLOYEE

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 May 2010 Check Your Mail.

Guest

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13 May 2010 How is TDS to be done ?

Income from salaries is to be computed on estimated basis at the beginning of each financial year.
Net income tax payable on the basis of estimated salary income should also be calculated.
Such estimation of salary income and net tax liability may require revision periodically, depending upon change in income or investment made by the employee in the form of deposit/subscripttion/payment.
The net tax liability is to be estimated after considering specific allowable deductions and rebates.

Every month 1/12th of the net tax liability is required to be deducted.

Stress :

TDS u/s.192 has to be done at the time of payment of salary.

No deduction at source is contemplated u/s.192 in case where a payment towards salary has accrued but not made.

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