26 May 2011
If company thinks instead of deducting TDS on employees salaries ie employies getting salaries within 2,45,000 p.a let them file the return individually den whether such salaries are disallowed as per income tax act for non deduction of TDS... please clear it.
26 May 2011
No currently there is no disallowance for the same as such but the department may ask the deductor to remit the TDS deductible but not deducted. So better to deduct and pay now.
20 June 2011
TDS has to be deducted from salary if the income exceeds the taxable income. For FY 11-12, Senior citizen tax free is 2.5 lac, women 1.9 la others 1.8 lac, in case the income exceeds these limits TDS must be deducted.
CAclubindia
