Varaprasad (Self Employed) (34 Points)
13 June 2012Dear Experts,
I have a query on filing of 24Q for FY 2011-12. We have employee head count about 100, out of this tax liability will be for nearly 65 employees. my question is, while preparing TDS returns, do we need to show all employees gross salary, even if it is zero tax liability or only taxable employees gross salary ?
Ex: Gross Pay for Month 1,00,000.00 for 100 head count
Taxable empl gross 65,000.00 for 65 head count
Thank you,
shankar
(CA, CS Final)
(243 Points)
Replied 13 June 2012
Dear Ranjit,
Instead of looking and waiting for the suggestion or comments you should go to the ICAI institute and discuss with them. In this way you will get clear cut answer and there is nothing to doubt.
So its much better for you to go ICAI institute and ask what exactly you want to ask.
Thanks
Shankar
CA. Amit Prajapati
(Chartered Accountant)
(118 Points)
Replied 13 June 2012
| Originally posted by : Varaprasad | ||
 |
Dear Experts, I have a query on filing of 24Q for FY 2011-12. We have employee head count about 100, out of this tax liability will be for nearly 65 employees. my question is, while preparing TDS returns, do we need to show all employees gross salary, even if it is zero tax liability or only taxable employees gross salary ? Ex: Gross Pay for Month 1,00,000.00 for 100 head count Taxable empl gross 65,000.00 for 65 head count Thank you, |
 |
Varaprasad, Hope this question is pertaining to AY 12-13. As per the notification employee whose income is less than 5 Lcas and income from Bank Interest is less that 10K should not file the return of income. However such employees are suppose to get Form 16 from their employer. You will issue form 16 only when you have filed the TDS return of the respective employees. So it is required to file the details of all the employees even though the TDS is not deducted in some of the cases. Please refer the details on the below link
https://www.simpletaxindia.net/2012/02/exemption-from-income-tax-return-filing.html
Any how the TDS return should cover the income details of all the employees.
Vandana Mulchandani
(Finance Manager )
(9227 Points)
Replied 14 June 2012
We need to only show for those employees whose income is taxable for that particular Assessment year.
N. Rajendran
(Manager - Accounting)
(40 Points)
Replied 14 June 2012
Hi Dear,
In my opinion is we need to submit those employees are coming under Tax liability and also Tax deducted, other than this no need to file all employees data to TDS return.
Note: In TIN center thay were advised us to file Tax Deducted employees only.
Thanks
N. Rajendran
Executive Finance & Account
Rajesh Kumar
(owner)
(26 Points)
Replied 14 June 2012
In form 24Q we have to show the taxable income of the employees and employees who tax deducted and balance payable if any, employees whos income is below taxable need not to be shown in form 24q
Mukesh Kumar Singh
(CA-FINAL)
(4094 Points)
Replied 18 June 2012
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CAclubindia
