Advance Income tax deduction
Vijay Lokhande (24 Points)
21 July 2018
Advance Tax deducted from salary, which is liable to deduct from the total annual Income of salary or not?
10 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 21 July 2018
the employer is required to mandatorily deduct TDS every month on Salary under Section 192 on the basis of average rate of income tax of the taxpayer for that financial year.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 21 July 2018
Yes... It's deductible from. Your annual income. Also they ll consider your deduction (80c, VI-A details & others). May be consider your other incomes if any... TDS also treated Advance Tax.
Vijay Lokhande
(24 Points)
Replied 21 July 2018
Sir I mean to say Advance Income tax deduction from salary & TDS deducted from other income sources is liable deduct from total gross income or like deduction under section 80
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 21 July 2018
Yes.. It's from salary and you can consider to IFOS amount also.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 21 July 2018
| Originally posted by : Vijay Lokhande | ||
 |
Thanks sir, I am satisfied with answer |  |
You are most welcom Sir...
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 22 July 2018
IFOS : Income From Other Sources...
IFHP : Income From House Property...
PGBP : Profit and Gain from Business and Profession...
IFHP : Income From House Property...
PGBP : Profit and Gain from Business and Profession...
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