23 February 2012
For this year one of our employee is retired in March 15 2012.We are making final payment in next financial year i.e in April 2012 or May 2012. In that case whether TDs is deducted on paid basis or consider his total income for f.y 2011-12 & deduct tax. pls explain.
23 February 2012
Salary is on due basis till 15th March 2012. For other payables at the time of retirement, you can check relevant provisions for tax exemptions.
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