Tds on salary of employees
This query is : Resolved
03 September 2013
Sir/madam,
What is the Basis for Deduction of TDS on Salary of Employees? and Rate Applied for Them
What is the Basis for Deduction of TDS on Salary of Employees? and Rate Applied for Them
03 September 2013
For TDS deduction on salary there is no specific rate of TDS. The normal slab rates applicable for tax deduction on Salary.
So first you have to compute taxable salary income after deductions of all exemptions and deductions(savings etc...) based on the data(information) available at the employer and compute tax liability on that income and deduct TDS equally for each month if any excess or short amount of deduction required then such amount you shall adjust at the last month of year.
For full details please refer section 192 of the income tax act,1961.
OM SAI SRI SAI JAI JAI SAI
So first you have to compute taxable salary income after deductions of all exemptions and deductions(savings etc...) based on the data(information) available at the employer and compute tax liability on that income and deduct TDS equally for each month if any excess or short amount of deduction required then such amount you shall adjust at the last month of year.
For full details please refer section 192 of the income tax act,1961.
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- GST Regis.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
