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Salary

ca sweeti gulati (CA Practice ) (90 Points)

30 January 2014

If the person receiving the salary of 23000p.m for 9 months without tax nd shifted to new job and getting 50000 p.m . At the time of deduction of tds what we have to do??? while deducting tds what should we calculate ? previous+new or new?

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Mihir (Wealth Manager) (5293 Points)
Replied 30 January 2014

Rs. 23,000 x 9 = Rs. 2,07,000/-

Rs. 50,000 x 3 = Rs. 1,50,000/-

Total = Rs. 3,57,000/-

If the employee does not have any investments u/s 80C or others, he will have to ask his new employer to deduct TDS for coming 3 month of Rs. 5,300/- each to match his tax liability of Rs. 16,000/-

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CA Devanand Jethanandani (CA) (8003 Points)
Replied 30 January 2014

Hi Sweeti,

Employee will have to give details of salary he has received from previous employer (along with bifurcation i.e. exempted allowances, deductions etc.), details of investments u/s 80C etc. and figure of other income (if any) to his current employer.

Considering his all these income during the year, the current employer will deduct the TDS accordingly.

Thanks,

CA. Devanand

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