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Tds

venkat (Accountant) (222 Points)

14 April 2014

Dear all,

If income tax of employee Rs.52000.

How much TDS to be deducted per month.

May I deduct the TDS amount in last three months

Please replu as soon as possible.

Thanks to all

Venkatesh

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3 Replies

asim jana (accounts head) (205 Points)
Replied 14 April 2014

Dear Venkatsh,

In my opinion TDS on salary should be deducted on monthly basis on estimated income from salary by dividing estimated tax by 12.

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Mihir (Wealth Manager) (5293 Points)
Replied 15 April 2014

If tax payable is Rs. 52,000/- after computing salary, deductions etc, the employer is required to deduct TDS equal to the tax payable divided by 12 months ie Rs. 52,000 / 12 = Rs. 4,333/- pm

Sachin (sachinsahdev@gmail.com) (51 Points)
Replied 15 April 2014

Hi,

TDS to be deducted on the estimated income divided by number of months of his employment. However, if does not have PAN, deduct 20% (Without education cess & Higher education cess)