yogen (Accountant) (105 Points)
25 February 2013sir how to calculate the TDS in the following situation:
Mr A employee salary is 30000 per month and annual is 360000 perannum but due to his absent in job he get sometime 20000 in month and in some month he get full salary 30000.
therefore if it is add it come to only 300000 only in ayear.
what should i need to do in this situation. where i have to take his monthly salary 30000 or should calculate according to the actual amount he received .
please help.
ON FIRST MONTH OF THE YEAR I.E. APRIL, YOU SHOULD CONSIDER RS. 30,000/- P. LIKEWISE RS. 3,60,000/- P.A.
IN ANY MONTH, IF SALARY IS LESS THAN RS. 30,000/- DUE ANY REASON, THEN YOU SHOULD RECALCULATE THE TAX LIABILITY OF SUCH SALARIED EMPLOYEE AT YEAR END AND TAX TO DEDUCTED BY DEVIDING INTO REMAINING MONTHS OF THE YEAR.
yogen
(Accountant)
(105 Points)
Replied 26 February 2013
sir,
thankyou very much i alway oblige to you. again please give me the excuse i didnot understand clearly.
sir, TDS should be deducted every month on the bases of his salary per month when salary payment is made. and i am confuse inthe following points
1) if he get 20000 in feburary 2013 due to absent but his actual salary is 30000. then should i calculate the tds on 20000 or on 30000 ?
or
2) should i calculate on actual salary he got say 200000 (this is after adding total 12 month actual salary) or on 360000 (this is his salary on appointment later i.e salary per month if he is not absent)
Hoping you reply
thankyou
yours faithfully
yogendra
dear,
calculate total taxable income of salaried employee every month end............
suppose , you are going to make payment salary for the month of september, 2012 then consider actual salary uptu september, 2012 for six month and from october, 2012 to march, 2013 consider salary rs. 30,000/-. calaculate total tax liability amount.
now assume tax liability is rs. 14,000/- and you have altready actually deducted tax of rs. 7,000/- from april , 2012 to august, 2012.
hence now pending tax liability is of rs. 7,000/- and it shall be deducted from salary in seven months left. from september, 2012 to march, 2013.
now got it dear...............
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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