what is meant by tax paid salary?
I have question which says _ if an employee receives tax paid salary, then there is no liability on employee to pay taxon the amount received by him.true/false?
what is meant by tax paid salary?
I have question which says _ if an employee receives tax paid salary, then there is no liability on employee to pay taxon the amount received by him.true/false?
Tax Paid Salary Means
That Salary on which Tax is already paid by Employer on Behalf of Employee
But In this condition Employee Not free from Liability of TAX
His income will be taxable cum Tax paid by Employer
& he wiil be liable to pay TAX.
| Originally posted by : Nirmal | ||
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Tax Paid Salary Means That Salary on which Tax is already paid by Employer on Behalf of Employee But In this condition Employee Not free from Liability of TAX His income will be taxable cum Tax paid by Employer & he wiil be liable to pay TAX. |
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agreed
There is diffrence in TDS or Tax Paid Salary
TDS Deduct by Employer should be Deposite in Govt. a/c within Mention Period in form of TDS Return.
Tax Paid Salary Is tax Paid By Employer in way of Self Assessment Tax
this will include in salary income of Employee
& thereafter the assessee can claim refund
but once tax should be paid by Employee
to avoid double tax
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