TDS ON SALARY
This query is : Resolved
14 May 2011
I WANT TO KNOW THAT WHETHER WE CAN DEDUCT THE TDS ON SALARY OF EMPLOYEES AT THE END OF THE YEAR OR WE NEED TO DEPOSIT IT MONTHLY.
14 May 2011
Can be deposited at the end of the year also. But if exceeds taxable limit reasonable deductions can be made from the beginning.
14 May 2011
BUT SIR I HAVE NOT DEDUCT TDS FROM THE BEGINNING FROM THE YEAR & INCOME HAS EXCEED LIMIT THEN?
14 May 2011
No Problem even if deducted in last month. Generally it is deducted over the period to reduce the burden of deduction in month on employee. Say employee salary is Rs 30000/- p.m. and tax liability is 12000/- then in last month he will have to suffer deduction of Rs 12000/- extra apart from usual deductions.
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