Tds on wages
This query is : Resolved
27 January 2014
We are a manufacturing firm and have workers on our pay roll. What is the maximum limit of wages after which we have to deduct TDS.
27 January 2014
Section 192 applicable. Applicable individual imcome slab to be considered for calculation of TDS amount.
Message likes :
1 times
27 January 2014
Maximum limit on which TDS is not deductible for FY 2013-14 is Rs.220,000+admissible deduction under section 80C/80D etc.
Message likes :
1 times
30 January 2014
The basic exemption limit is still Rs.2.5 lakh for senior citizens and Rs.2 lakh for others. Section 87A of the Income Tax Act, 1961 allows REBATE of upto Rs. 2,000/- from the income tax payable, if total income does not exceed five Lakhs rupees.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
