In case of Salry TDS deducted on either Payment Basis Or Due Basis? In Which Section?
3 Replies
CA Biswaranjan
(job)
(149 Points)
Replied 12 August 2008
TDS on salaries should be deducted at the time of payment. ie as and when salary is paid not on due basis.
u/s 192.
(Guest)
Dear Amit
TDS must be deducted at the time of credit or payment, which ever is earlier. It is applicable to all and should be paid up to 7th of next calender month. For more detail you can see www.incometaxindia.gov.in.
IT section for TDS on Salary is 192
Diwakar Mishra
(Accountant)
(136 Points)
Replied 13 August 2008
Tax is decuctible at sourse from salary income either at the time of credit of such sum to the account of the employee, or at time of payment thereof whichever is earlier in section 192
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