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section 192B

Mahesh Sharma (1 Points)

19 February 2018

what is section 192B?

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raja sekar (1435 Points)
Replied 19 February 2018

TDS deducted by employer

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Vinaya Kumara K H (Accounts Executive) (259 Points)
Replied 19 February 2018

SEC 192B IS RELATES TO TDS ON SALARY

Vinaya Kumara K H (Accounts Executive) (259 Points)
Replied 19 February 2018

Nature of Payment	Section	Section code to be used in the return
Payments made to Govt. employees other than Union Govt. employees	192	92A
Payments made to employees other than Govt. employees	192	92B
Payments made to Union Govt. employees.Applicable from for statement pertaining to FY 2013-14 onwards.	192	92C

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Indira Priyadarsini Kota (Practice) (590 Points)
Replied 20 January 2021

S 192 deals with TDS to be deducted in the payments made by employer by way of salary and prerequisites at the average rate of tax applicable to the employee

CA Ruby Bansal (Finance Professional) (6814 Points)
Replied 30 March 2023

As per this section, employers are required to deduct TDS on the salary paid to their employees. The TDS rate is determined based on the employee's income tax slab rate for the financial year. The employer is required to deduct TDS every month and deposit it with the government.

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Sanjay Suryavanshi (Service) (0 Points)
Replied 25 July 2023

Section 192 deals with Tax Deducted at Source (TDS) on salary payments.

Employers responsible for deducting TDS can be companies (private or public), individuals, HUF, trusts, partnership firms, or co-operative societies.
TDS rates are not specified in Section 192. The deduction is based on the income tax slab rates applicable to the employee for the relevant financial year in which the salary is paid.
If an employee does not have a PAN (Permanent Account Number), TDS will be deducted at a flat rate of 20%.
Employers must deduct TDS from the employee's salary at the time of payment and deposit it with the government within the specified due dates.
Employees can claim a refund or adjust excess TDS deducted while filing their income tax returns.
It is essential for employees to provide their PAN details to avoid higher TDS deduction.