ish kumar sharma (Sr. Manager Accounts & Finance) (301 Points)
20 August 2015hi
i just want to know the salary breakeup that a company should keep with it to reduce TDS deduction so as to get maximum in hand salary to employees becouse employee feels happy to get more in hand rather to get deduction from salary and claiming it some time later.
thanks in advance
Rahul Verma
(CA-Final)
(484 Points)
Replied 20 August 2015
Company can bifurcate it's salary structure in such a way so that there is more exempted part i,e.
HRA
Education allowance
Washing Allowance
Etc.
RAhul
ish kumar sharma
(Sr. Manager Accounts & Finance)
(301 Points)
Replied 20 August 2015
what is this "washing allowance sir?"
Rahul Verma
(CA-Final)
(484 Points)
Replied 20 August 2015
Washing allowanance provided by employer to emplyee for washing purpose.
ish kumar sharma
(Sr. Manager Accounts & Finance)
(301 Points)
Replied 20 August 2015
@ Rahul Verma
if i joined a company this month and become liable for tds deduction from the first month, now is it possible to put my request to account section not to deduct tds from my salary by showing lip, rent reciepts, ppf contribution etc from the first month
Rahul Verma
(CA-Final)
(484 Points)
Replied 20 August 2015
You have to provide all the saving details to Accounts department like LIC, Rent Receipts etc. for saving your's TDS but if your income is liable to TDS then TDS will be deducted irrespective of u submitted savig proofs or not.
Rahul
CAclubindia
