Tds deducted on salaries

Page no : 2

sarika (Account Executive) (36 Points)
Replied 30 March 2012

Sir,

what is the allowance exempted from salary f.y.2011-2012

sarika

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sarika (Account Executive) (36 Points)
Replied 30 March 2012

Originally posted by : sarika
	Sir, what is the allowance exempted from salary f.y.2011-2012 sarika

sai kumar (CA) (160 Points)
Replied 30 March 2012

There are many allowances exempt from salary. some of them are

1.H.R.A (House Rent Allowance)

2.L.T.A (Leave Travel Allowance)

3.Medical Allowance etc....

Parikh Ashish Narendrakumar (C.A,M.Com.,LL.B) (39 Points)
Replied 30 March 2012

Dear All,

There is no of Allowance like

H.R.A, Conveyance, Travelling, Uniform, D.A, Medical, LTC and any more..........

NANDU PAREEK (MANAGAER TAXATION) (35 Points)
Replied 31 March 2012

Once TDS from salary and deposited with govt. treasurery can not be refunded to the employee. In this case you must have filed quarterly return mentioning name and pan no. of the employee whose tax is deducted.

Employee can claim refund but you cannot refund to him.

Regarding form 16 , you can issue form 16 showing actual salary paid and tax deducted.

Nandu Pareek

Manager Taxation

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JAYESH M GANDHI (PROPRITOR) (34 Points)
Replied 31 March 2012

Originally posted by : surekha sawant

We are banker. Our Employee retired on that time Employee get retirement benefit Like As Additional retirement Benefit, Gratuity, Leave & Cash, Pension computation. Pl guide to us

Additional retirement Benefit is Taxable

Gratuity is after 10 Lakh is Taxable

Leave & Cash after 3 Lakh is Taxable

But what is ceiling limit for Pension computation or totally tax free

Pl reply on ETDSIT @ GMAIL.COM

mukesh (proprietor ) (23 Points)
Replied 01 April 2012

at employer end tds return should be file in timely manner, it emloyee headache to claim refund or not.

shiv shankar rawat student CMA (Manager) (263 Points)
Replied 02 April 2012

Dear Friend

baljeet kumar RAVI patidar

As per my concern and as per rule 192B , when u have deduct any TDS On prorata basis, that time employer never know employee will work in continue or not . and when you have already filed TDS return 24 Q, OF Ist QTR. but not filled 2ND QTR. then you can refund only tds amount which u have deducted from jul to sep (2nd Qtr).and could be adjust in other employee tds liability

Rgds

S.S.RAWAT